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    507685   INE075A01022

WIPRO LIMITED

(507685)
  Report
End-of-day quote Bombay Stock Exchange  -  2022-09-29
394.30 INR   +0.22%
06:07aNomura Adjusts Wipro's Price Target to 400 Indian Rupees From 440 Indian Rupees, Keeps at Neutral
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Indian shares hit four-month high; inflation data eyed

08/11/2022 | 06:40am EDT

BENGALURU, Aug 11 (Reuters) - Indian shares closed at four-month highs on Thursday, led by gains in technology and bank stocks, after a softer-than-expected U.S. inflation data eased fears of aggressive rate hikes by the Federal Reserve.

For domestic cues, investors are awaiting the consumer price index (CPI) data due on Friday. India's retail inflation likely eased in July due to a fall in food and fuel prices, but stayed well above the central bank's upper tolerance limit of 6% for a seventh consecutive month, a Reuters poll showed.

The NSE Nifty 50 index, posting gains for four straight sessions, closed 0.71% higher at 17,659, and the S&P BSE Sensex was up 0.88% at 59,332.60.

"The optimism came on the back of a U.S. consumer inflation rate that eased in July after hitting the peak a month before, raising hopes that the Fed will slow down the pace of interest rate hike," said Prashanth Tapse, research analyst at Mehta Equities, adding that bullish sentiment is likely to prevail as overseas investors remain net buyers.

Foreign investors have bought a net $2.24 billion worth of Indian equities so far this month, compared with $518 million worth of net selling in the same period last month, according to Refinitiv data.

Nifty's IT index was settled 1.8% higher, with Infosys, Tata Consultancy Services and Wipro adding between 1% and 2%.

Nifty's public sector bank index climbed 2.4% to snap a five-day losing run and was the best performer among other sub-indexes. Top lender State Bank of India's, up nearly 2%, was among the gainers of Nifty 50 index.

Globally, shares edged higher on optimism of a slower pace of interest rate hikes after U.S. data pointed to inflation peaking. The U.S. CPI, in the 12 months through July, increased by a weaker-than-expected 8.5% after a 9.1% rise in June. (Reporting by Rama Venkat in Bengaluru and additional reporting by Gaurav Dogra; Editing by Dhanya Ann Thoppil and Shailesh Kuber)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) 0.45% 0.64486 Delayed Quote.-11.82%
BRITISH POUND / US DOLLAR (GBP/USD) 0.50% 1.11907 Delayed Quote.-17.51%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) 0.27% 0.72731 Delayed Quote.-8.62%
EURO / US DOLLAR (EUR/USD) -0.25% 0.9768 Delayed Quote.-13.87%
INDIAN RUPEE / US DOLLAR (INR/USD) -0.37% 0.012224 Delayed Quote.-8.63%
INFOSYS LIMITED -1.39% 1393.75 Delayed Quote.-25.13%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) 0.65% 0.56565 Delayed Quote.-18.17%
NIFTY 50 -1.21% 16887.35 Delayed Quote.-1.50%
SENSEX BSE30 -1.11% 56788.81 Real-time Quote.-1.42%
STATE BK OF INDIA -2.04% 519.75 Delayed Quote.15.24%
TATA CONSULTANCY SERVICES LTD. -0.65% 2984.95 Delayed Quote.-19.63%
WIPRO LIMITED 0.22% 394.3 End-of-day quote.-44.87%
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Analyst Recommendations on WIPRO LIMITED
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Financials
Sales 2023 907 B 11 151 M 11 151 M
Net income 2023 118 B 1 453 M 1 453 M
Net cash 2023 225 B 2 761 M 2 761 M
P/E ratio 2023 18,3x
Yield 2023 2,09%
Capitalization 2 157 B 26 512 M 26 512 M
EV / Sales 2023 2,13x
EV / Sales 2024 1,86x
Nbr of Employees 258 574
Free-Float 26,6%
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Technical analysis trends WIPRO LIMITED
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 41
Last Close Price 394,30 INR
Average target price 448,44 INR
Spread / Average Target 13,7%
EPS Revisions
Managers and Directors
Thierry Delaporte CEO, Executive Director & Managing Director
Jatin Pravinchandra Dalal President & Chief Financial Officer
Rishad Azim Premji Executive Chairman
Subha Tatavarti Chief Technology Officer
Harmeet Chauhan Global Head-Engineering, Research & Development
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