Wipro Share Latest News : Wipro Limited will announce results of first quarter on July 15, 2021. The first quarter ended on June 30, 2021. So, what is the future of Wipro Shares and what should be the target price for 2021 ?
Table of Contents
A quick fundamentals of Wipro Limited
The current price of a Wipro Share on 9th July is 528.80 rupees. The wipro share got double in just a year. 52 week low was 219.45 and the 52 week high was 564.00 . The company’s stock showed down trend due to COVID-19 period. Undoubtedly, Wipro Limited is 3rd biggest IT company in India with Market Cap of 2,89,303.87 rupees. It has face value of 2 rs. Earning Per Share (EPS) is also consistently good that is of 18.36 rupees. PE is 28.92, ROE is 22.24 with 19.6%. ROCE is 22.1%. Profit growth is not that much impressive with 11%. Wipro booked profit of 10,796 Cr in just a year. Also from last 10 years, company is managing to give return of 13% every year to their share holders.
Shareholding Pattern:- Promoter 73.02%, FII 9.21%, DII 6.15%, Public 11.25%, Others 0.37%.
Promoters have decreased holdings from 74.01% to 73.02% in March 2021 quarter.
Mutual Funds have increased holdings from 2.2% to 2.33% in March 2021 quarter.
Number of MF schemes increased from 30 to 32 in March 2021 quarter.
FII have increased holdings from 8.46% to 9.21% in Mar 2021 quarter.
Wipro Limited keep offering bonus and dividends to their share holders. So, it is one of the favourite stock for long term investors.
Latest News about Wipro Limited
- Wipro will continue to grow while creating more sustainable business, says CEO
Wipro will continue to grow and amaze the market while creating a business that is more sustainable and equitable for all of us, chief executive Thierry Delaporte said.
2. Wipro donated 1000 Crores more for COVId-19 relief
“As our work as well as our situation evolved, we realised that focus on universal vaccination was just as important as other initiatives. So, we have added that as a key element of our COVID-19 relief strategy, and committed an additional Rs 1,000 crore for it,” Premji said.
3. TCS, Infosys and HCL Tech will show a good quarter but Wipro’s earnings will top them all
According to Business Insider, a big reason for outstanding performance of Wipro would be the $1.45 billion acquisition of Capco, which is the largest buyout. A growth estimate of Wipro shares is 9.6%
Wipro share price target for 2021 and it’s future
The target price mentioned by different brokerage firm for Wipro Limited in 2021
Buy Wipro shares with target of Rs 637 : Prabhudas Liladhar
Prabhudas Liladhar gave a target of Rs 637 for Wipro shares and expected this price in it’s research report of July 7, 2021
Brokerage firm Sharekhan suggest Target Price of Rs 610.
Sharekhan suggest revised target price of Rs 610 on Wipro Limited.
Conclusion : Currently, Wipro shares is under the fear zone with Rs 525.80 (as of 9th July, 2021) which is best period to buy this stock. If it falls again, investor should definitely buy it more. But, within a month it would gain it’s high again. Because, Wipro stock showed the exponential growth from last one year with little ups and downs.
Disclaimer : The above article is a summarisation of all information available about Wipro on public domain. Before investing, you should really take advice from your personal broker and study the fundamentals by yourself.