Wipro’s Impressive Growth and Market Confidence short-term target 450

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Wipro: A Global Leader in IT and Consulting Services


Wipro’s Impressive Growth and Market Confidence short-term target 450
Wipro is one of the world’s leading Big Tech companies, offering a wide range of information technology, consulting, and business process services to clients in 167 countries. Wipro has a strong presence in various domains, such as cloud computing, cybersecurity, digital transformation, artificial intelligence, robotics, data analytics, and more. Wipro helps its customers to leverage the power of technology to achieve their business goals and create value.

Wipro has a rich history of innovation and excellence, dating back to 1945, when it was founded by Mohamed Premji in Amalner, India. The company started as a manufacturer of vegetable oil and other consumer products but later diversified into new areas of opportunity in the IT and computing industry. Under the visionary leadership of Azim Premji, who took over the company at the age of 21 after his father’s death in 1966, Wipro transformed itself into a global IT giant.

Wipro became the first Indian company to be listed on the New York Stock Exchange in 1999, and the second Indian IT company to earn US$1 billion in annual revenue in 2004. In 2012, Wipro spun off its non-IT businesses into a separate entity called Wipro Enterprises, to focus on its core IT and consulting services. In 2023, Wipro opened its American international headquarters in New Jersey, USA.

Wipro has consistently delivered strong financial performance and value creation for its shareholders. The company has a high return on capital employed (ROCE) of 17.46% and a high return on equity (ROE) of 14.61%. The company is also backed by a solid promoter holding of 72.9% and has seen an increase in domestic institutional investors (DII) holding by three times in the last year.

Wipro’s share price has also been on an upward trend, reflecting its growth potential and market confidence. The share price closed at INR 389.15 on Friday, June 30, 2023. Investors can accumulate the stock between INR 390 to INR 360 for a short-term target of INR 450, a medium-term target of INR 510, and a long-term target of INR 570 and more.

Wipro is a company that has proven its mettle in the IT and consulting industry, with its cutting-edge solutions, customer-centric approach, and ethical values. Wipro is a company that is poised for greater heights in the future.

Disclaimer: This article is for informational purposes only and does not constitute investment advice or recommendation. The views expressed in this article are based on the author’s analysis and opinion and do not reflect the official position of Wipro or any of its affiliates. The author does not own any shares of Wipro and has no intention to buy or sell any shares of Wipro in the near future. The author is not responsible for any losses or damages arising from the use of this article or any information contained herein. Readers are advised to do their own research and due diligence before making any investment decisions.

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