Wipro has dipped 7% RS 511 on the BSE in early morning trade after the compnay's IT services margin narrowed to 17.8% in the june quarter compared with 19.7% in the quarter ended march 2016
The compant expects revenues from our IT services business to be in the range of $ 1,931million on to $1,950 million in july-september quarter
Wipro IT service revenue growth guidance of flat -to -1%growth is a disappointment. Wipro attributed of the india&Middle East business analyst at IDBI Capital said in a results update .
Analyst at Antique stock Broking believe portfolio challenges in terms of higher exposure to energy.wekness in top clients and softness in india and middle east segment is weighing on the revenue trajectory.
"we believe,wipro portfolio related issues couped with uncertainty around Brexit impact will delay the turnaround to play out,hence we cut our target P/F multiple to 14xfrom 15x. We maintain our Hold REcommendation with a revised target price of 540 , the brokerage firm said in a Q1 result preview
Meanwhile the Wipro repored 8.3%quarter on quarter drop in its consolidated net profit at 2,052 crore for the quarter ended june.The company had profit of 2,238 crore in march 2016 and 2,192 crore in june 2015 quarter.
Income from operation emained flat at 13,698 crore in june quarter against rs 13,742 crore in previous quarter .
At 09:44 am the stock was down 4,6%at rs 524 on the BSE as compared to 0.3% rise in the S&P BSE Sensex. The stock is currently trading near to its 52-week low of Rs 509 touched on BSE on february during intra-day trade.A combined 2.5 million Shares changed hand on the counter on the BSE and NSE so far
wipro stock market
The compant expects revenues from our IT services business to be in the range of $ 1,931million on to $1,950 million in july-september quarter Wipro IT service revenue growth guidance of flat -to -1%growth is a disappointment. Wipro attributed of the india&Middle East business analyst at IDBI Capital said in a results update .
Analyst at Antique stock Broking believe portfolio challenges in terms of higher exposure to energy.wekness in top clients and softness in india and middle east segment is weighing on the revenue trajectory.
"we believe,wipro portfolio related issues couped with uncertainty around Brexit impact will delay the turnaround to play out,hence we cut our target P/F multiple to 14xfrom 15x. We maintain our Hold REcommendation with a revised target price of 540 , the brokerage firm said in a Q1 result preview
Meanwhile the Wipro repored 8.3%quarter on quarter drop in its consolidated net profit at 2,052 crore for the quarter ended june.The company had profit of 2,238 crore in march 2016 and 2,192 crore in june 2015 quarter.
Income from operation emained flat at 13,698 crore in june quarter against rs 13,742 crore in previous quarter .
At 09:44 am the stock was down 4,6%at rs 524 on the BSE as compared to 0.3% rise in the S&P BSE Sensex. The stock is currently trading near to its 52-week low of Rs 509 touched on BSE on february during intra-day trade.A combined 2.5 million Shares changed hand on the counter on the BSE and NSE so far
wipro stock market
