Last updated: 15 Jul, 2020 | 12:09 pm
Wipro has seen four chief executives in the last decade and has lagged its peers in growth. It lost its third position to HCL Technologies in the previous fiscal year. The New CEO Theirry Delaporte took charge from July 6th, with the main agenda of delivering profitable growth. Given the circumstances in Q1, Wipro has reported better-than-anticipated numbers.
Wipro has said that the conditions caused by the Covid-19 pandemic could decrease technology spending in the near future. Therefore, full-fledged recovery could be a few quarters away.
In the long-run, Wipro is confident of delivering sustainable growth. The stock has gained about 42% from its 52-week low on March 19th. The shares are trading at a PE of 15 as compared to the sector PE of about 21 times.
Our VGQM model has a BUY rating on the stock.