HSBC upgraded Wipro to “overweight” from “neutral”, saying the software services exporter was “competing effectively” for large deals, and adding the company is well positioned to improve sales after its “extensive restructuring.”
HSBC also upgraded its target price on the stock to Rs 420 from Rs 380. Reuters
“We believe with continued investments in sales and client partners, deal wins will start to improve from 2QFY13 and results in terms of better growth should be visible in 2HFY13,” HSBC said in a note dated on Wednesday.
HSBC also upgraded its target price on the stock to Rs 420 from Rs 380. Wipro shares were last up 0.1 percent at Rs 363.90 .
Firstpost encourages open discussion and debate, but please adhere to the rules below, before posting. Comments that are found to be in violation of any one or more of the guidelines will be automatically deleted:
Personal attacks/name calling will not be tolerated. This applies to comments directed at the author, other commenters and other politicians/public figures
Please do not post comments that target a specific community, caste, nationality or religion.
While you do not have to use your real name, any commenters using any Firstpost writer's name will be deleted, and the commenter banned from participating in any future discussions.
Comments will be moderated for abusive and offensive language.