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MarketScreener Homepage  >  Equities  >  NSE India Stock Exchange  >  Infosys Limited    INFY   INE009A01021

INFOSYS LIMITED

(INFY)
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Wipro shares fall nearly 7% as organic growth, revival plan disappoint

10/14/2020 | 02:44am EST
FILE PHOTO: The Wipro campus is seen in Bangalore

BENGALURU (Reuters) - Shares of Wipro Ltd fell 6.8% on Wednesday, a day after the software services firm posted quarterly organic revenue growth that was lower than peers and disappointed some investors with its plans to revive growth.

Chief Executive Officer Thierry Delaporte, who took the helm in July, said on Tuesday Wipro would focus more on large deals and "prioritize the markets and sectors that are relevant," without giving more details.

The commentary let down some investors who were hoping for more concrete steps from a company that has underperformed its rivals in the recent past.

"The strategic roadmap from the CEO to revive growth was not as strong as it was expected to be," IDBI Capital research analyst Urmil Shah said.

Wipro also saw a decline in revenue from its key markets of the Americas and Europe in the second quarter as clients cut spending, but some new deals helped to keep overall revenue largely flat at 151.15 billion rupees ($2.06 billion).

"Organic growth was down 4.5% year-on-year, lower than Accenture Plc (down 3%) and Tata Consultancy Services Ltd (down 3.2%)," AMP analysts said.

Quarterly profit also fell and missed analysts' estimates.

Wipro said it expects revenue at its IT services business to be in the range of $2.02 billion to $2.06 billion in the December quarter, lower than the $2.09 billion it earned a year earlier.

The company approved a 95 billion rupees share buyback at 400 rupees per share.

"While the quantum of buyback was largely in line with our expectations, the buyback price was a disappointment," ICICI Securities said in a note.

Wipro shares were set for their biggest one-day percentage loss since April in a weak broader market, while rival Infosys Ltd was down 0.2% ahead of quarterly results later in the day.

($1 = 73.3970 Indian rupees)

(Reporting by Nallur Sethuraman in Bengaluru; Editing by Aditya Soni)

By Sethuraman N R


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ACCENTURE PLC 1.28% 252.27 Delayed Quote.19.80%
CAPGEMINI SE -1.08% 114.15 Real-time Quote.6.52%
ICICI SECURITIES LIMITED 1.07% 448.55 End-of-day quote.10.26%
INFOSYS LIMITED 0.27% 1140.9 Delayed Quote.55.62%
TATA CONSULTANCY SERVICES 0.83% 2749.55 Delayed Quote.26.14%
WIPRO LIMITED -1.28% 350.5 End-of-day quote.42.51%
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Financials
Sales 2021 987 B 13 372 M 13 372 M
Net income 2021 187 B 2 541 M 2 541 M
Net cash 2021 286 B 3 877 M 3 877 M
P/E ratio 2021 25,6x
Yield 2021 2,40%
Capitalization 4 775 B 64 945 M 64 720 M
EV / Sales 2021 4,55x
EV / Sales 2022 4,04x
Nbr of Employees 240 208
Free-Float 85,0%
Chart INFOSYS LIMITED
Duration : Period :
Infosys Limited Technical Analysis Chart | INFY | INE009A01021 | MarketScreener
Technical analysis trends INFOSYS LIMITED
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 35
Average target price 1 284,60 INR
Last Close Price 1 137,85 INR
Spread / Highest target 62,6%
Spread / Average Target 12,9%
Spread / Lowest Target -39,4%
EPS Revisions
Managers
NameTitle
Salil S. Parekh Chief Executive Officer, MD & Executive Director
Mohit Joshi Co-President
Ravi Kumar S. Co-President & Deputy Chief Operating Officer
Nandan M. Nilekani Non-Executive Chairman
U. B. Pravin Rao Chief Operating Officer & Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
INFOSYS LIMITED55.62%65 664
ACCENTURE PLC19.80%159 830
TATA CONSULTANCY SERVICES26.14%139 178
INTERNATIONAL BUSINESS MACHINES CORPORATION-8.12%109 743
AUTOMATIC DATA PROCESSING, INC.1.98%74 901
VMWARE, INC.-7.27%59 133