Sell Wipro, target Rs 244: Dr CK Narayan

Dr CK Narayan of Chart Advise has a sell call on Wipro Ltd. with a target price of Rs 244. The current market price of Wipro Ltd. is Rs 251.15. Time period given by the analyst is Intra Day when Wipro Ltd. price can reach the defined target. Dr CK Narayan recommended to keep stoploss at Rs 256. Wipro Ltd., incorporated in 1945, has a market cap of Rs 151578.06 crore.

Wipro Ltd. key Products/Revenue Segments include Software Services which contributed Rs 46852.90 Crore to Sales Value (97.35 % of Total Sales), Networking, Storage equipment, Servers, Software Licenses which contributed Rs 1176.90 Crore to Sales Value (2.44 % of Total Sales) and Other Operating Revenue which contributed Rs 94.00 Crore to Sales Value (0.19 % of Total Sales)for the year ending 31-Mar-2019.

For the quarter ended 30-06-2019, the company has reported a Consolidated sales of Rs 14716.10 Crore, down -1.93 % from last quarter Sales of Rs 15006.30 Crore and up 5.28 % from last year same quarter Sales of Rs 13977.70 Crore Company has reported net profit after tax of Rs 2403.90 Crore in latest quarter. The company’s top management includes Dr.Patrick J Ennis, Mr.Abidali Z Neemuchwala, Mr.Azim H Premji, Mr.Ireena Vittal, Mr.M K Sharma, Mr.Patrick Dupuis, Mr.Rishad Premji, Mr.William Arthur Owens, Ms.Arundhati Bhattacharya. Company has Deloitte Haskins & Sells LLP as its auditoRs As on 30-06-2019, the company has a total of 6,035,359,575 shares outstanding.