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Wipro to gain from buyback plan, but re-rating is unlikely anytime soon

image Though the buyback announcement would support Wipro’s stock in the short term, cashing in on the demand opportunities will be a key trigger. Wipro’s sequential revenue growth in the March 2019 quarter (Q4) in constant currency fell to 1 per cent, from around 2 per cent each in the last two quarters. The Q4 growth is also lower than the Street’s expectations of 2 per cent as well as Infosys and Tata Consultancy Services (TCS) numbers. According to Sanjeev Hota, head of research at Sharekhan, Wipro is unlikely to be re-rated unless it regains revenue growth momentum. …

Source: Business Standard