Near-term outlook weak despite an uptick in Capco

22 Apr 2024
5 Min read 
  • Wipro's 4QFY24 results showed a decline in IT Services revenue and order intake.
  •  The near-term outlook for Wipro remains weak despite some improvement in Capco's performance.
  •  The new CEO's performance and ability to revive growth will be closely monitored.
  •  Wipro's IT Services EBIT margin improved in 4QFY24 due to better cost control and reduced employee count.
  •  The company's financials and valuations show modest growth and fair valuation.
  •  Management expects near-term margins to remain range-bound.
  •  Wipro's revenue growth is expected to be one of the lowest among Tier-1 IT Services peers in FY25.
  •  The company's utilization and attrition rates remained stable.
  •  Wipro's profitability ratios and cash flow from operations have shown mixed performance.
  •  The stock is rated as Neutral with a target price of INR490.
Login / Open Demat Account to read the report

Never Miss Out on Hot Market Updates

Get exclusive market news delivered to your inbox - on priority