Wipro share price: Kotak Institutional Equities retains ADD rating with price target of Rs 450
Wipro has simplified the organizational structure and made significant people changes including on boarding external hires to energize growth. External hires are for geo/country heads. Large deal momentum will likely continue in 4Q FY21. The company seems to be making the right moves to improve growth prospects although the disappointing Capco acquisition will lead to weaker transmission of turnaround gains into near-term earnings.
Kotak Institutional Equities retains Add rating with price target of Rs 450 on Wipro. Wipro’s turnaround effort has started off on a good note with the exception of Capco acquisition: Reuters