InvestorQ : I am holding shares of Wipro. Should I hold, buy or sell now?
Ira Shah made post

I am holding shares of Wipro. Should I hold, buy or sell now?

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1 year ago
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Wipro, the Bengaluru-headquartered IT services company disclosed it's quarter 4 consolidated profit up to Rs 2,483.5 crore which translates the growth of 37% approx. year-on-year. The total revenue sums up to Rs 15,006.30 crore. It accounts for a hike of 9%.

Investors have a good deal when the company declared Rs 10,500-crore share buyback. As on Tuesday, 16th April, Investors in the market cheered the update of buyback price which comes to 16% premium to the current market price.

However. market experts say that Wipro's IT services revenue guidance did not meet the estimation (Q1 financial year 2019-20). In regards to the IT services the company expected in the range of approx. USD 2,046-2,200 million. Wipro's financial expert said the buyback price is around Rs. 320 (USD 4.71) per equity share payable in cash.

Concluding all the above data, I observe Wipro made a decent performance in the fourth quarter of the financial year 2018-19 (4QFY19). It also guides to expect for the financial year 2020 (1QFY20).

Since buyback is declared by the company at a good price, I would suggest it is a good opportunity for an investor to tender their shares and earn good returns.

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Purvesh answered.
1 year ago
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Wipro is buying back the share with 16% high price so you should hold the stock. The stock will surely give 20% gain in near future.
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