On April 30, today, Wipro shares saw a rise of 3% in early trading and touched a new high of 5 weeks.
Explain that the company has revised its earnings estimates for the first quarter of FY 2022. The company says that in the June quarter, the company’s IT business could see a growth of 8 to 10 per cent on a quarterly basis and could be between 23.2 to 23.6 million dollars.
Explain that in the announcement made earlier, the company said that in the June quarter, the IT business of the company could see a 2–4 per cent increase in revenue on a quarterly basis, and this was in the period from $ 21.9 million to $ 22.3 million. Can live in the middle.
In March, Wipro acquired a company named Capco with an investment of $ 1.45 billion to strengthen its presence in the BFSI segment. Which contributes about 30 per cent to the company’s earnings. Wipro plans to run Capco as a separate company.
It is worth noting that Capco and Ampion’s earnings were not included in the estimate given by the company earlier, but the earnings of these two companies have also been added to the guidelines it has given now.
Today, this stock has seen a strong increase due to increase in revenue guidance for the June quarter.
Explain that the company presented its fourth quarter results on April 15. The fourth quarter results have been announced. The company’s IT services business grew strongly in the fourth quarter. The IT business of the company during this period stood at Rs 16,334 crore. Which has been more than anticipated. CNBC-18 had estimated the IT business of the company at Rs 15,768 crore.
On a quarter-on-quarter basis, the consolidated profit of the company grew by 0.1 per cent to Rs 2,972.3 crore. Similarly, in the fourth quarter CC revenue growth has grown by 3 per cent. While the dollar has seen an increase of 3.9 percent in earnings. Both of these figures remain the same as estimated by CNBC-TV.
Right now, the stock is seen around Rs 500 with a gain of Rs 10, or 2.02 per cent on the NSE.
Suyog Kulkarni of Reliance Security says that the acquisition of Capco will further enhance the capabilities of Wipro’s BFSI vertical. Restructuring efforts of the company will further strengthen its business and the company will perform much better in the new leadership. Keeping these things in mind, we We recommend investing in Wipro with a 2-year perspective for Rs 565.
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