Reduce Wipro; target of Rs 500: ICICI Securities
Fri, Oct 18, 2024 4:56 PM

Reduce Wipro; target of Rs 500: ICICI Securities

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Wipro's Q2FY25 revenue exceeded estimates, driven by BFSI-led growth, with 3/6 verticals showing positive QoQ growth and a 35bps QoQ margin expansion. However, the company faces challenges in simultaneous growth across all verticals, with continued weakness in manufacturing and energy. The Q3FY25 guidance is muted, with a revised target price of INR 500.

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