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Wipro’s Stock Price Target Set at Rs 410 by ICICI Securities

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Wipro’s stock price target set at Rs 410 by ICICI Securities: Despite declining valuation, the brokerage firm believes Wipro’s order book will recover in the coming quarters, driven by growth of new technologies.

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Wipro, one of the largest IT service providers in India, has seen its valuation decline significantly over the past year. The company’s market capitalization has dropped from a high of around Rs 170,000 crore to around Rs 140,000 crore as of now. This drop is mainly attributed to the decline in the global tech sector and the resulting impact on Wipro’s order book.

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Overview of Wipro

Wipro is an Indian multinational corporation that provides information technology, consulting, and business process services.

Founded in 1945 by Azim Premji as Western India Vegetable Products Ltd., the company initially manufactured vegetable oil.

In 1966, it was renamed Wipro Products Ltd.

and began to diversify into soap and toiletries.

The company's IT division was established in 1980 and has since grown to become a leading provider of IT services globally.

Several factors have contributed to Wipro‘s declining valuation. One major factor is the company’s significant exposure to the US market, which has been experiencing a slowdown due to the ongoing trade tensions between the US and China. This has resulted in a decline in Wipro‘s order book from $8 billion to $4 billion over the past year.

valuation,wipro,it_sector,target_price,icici_securities,stock_price

Another factor contributing to the decline is Wipro‘s high debt levels. The company has taken on significant debt to fund its expansion plans, which has put pressure on its balance sheet. This has led to a downgrade of Wipro‘s credit rating and an increase in its cost of borrowing.

Despite these challenges, ‘ICICI Securities has set a target price for Wipro at Rs 410,’ indicating that the company’s valuation is undervalued compared to its peers. The brokerage firm believes that Wipro‘s order book will recover in the coming quarters, driven by the growth of new technologies such as cloud and artificial intelligence.

DATACARD
Wipro Stock Price: A Comprehensive Overview

Wipro Limited is a multinational corporation that provides IT consulting and business process services.

The company's stock is listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) in India.

As of 2022, Wipro's market capitalization stands at over $25 billion USD.

The company's stock price has experienced significant fluctuations over the years, influenced by factors such as global economic trends, industry developments, and Wipro's performance.

Investors can access real-time Wipro stock prices through various financial platforms, including Bloomberg and Yahoo Finance.

Wipro‘s declining valuation presents an opportunity for investors who believe in the company’s long-term prospects. While the company faces significant challenges, ‘ICICI Securities’ target price suggests that its valuation is undervalued compared to its peers,’. As Wipro works to address its debt levels and recover its order book, investors may see a significant upside in the stock’s price.

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