R K Global has put a buy call on Wipro with a target price of Rs 395.
" In Jan'12, we mentioned that the 3 pillars of growth, viz, volume pricing & utilizations are yet to mature for Wipro. Now, at the end of Q1FY'13, except the pricing piece of it (not mature but somehow cautiously stable), the rest two pillars are yet to show pick up. However, unlike Infosys, there is a solace of revenue visibility. The stock presently trades at a P/E of ~10.2x and P/BVPS of ~2.6x of FY'13E EPS and BVPS. We re-price our earlier TP of Rs 441 to Rs 395 (~16.8%), arrived at a P/E of ~12.0x and P/BVPS of ~3.0x, using FY'13E EPS of Rs33 and BVPS of Rs128," the company has stated in its research report on Wipro.
Dolat Capital has put a buy call on HCL Technologies with a price target of Rs 620 in its research report.
"We believe the robust volume/pricing growth of about 1.8%/2.8% QoQ indicates sustained business traction. Also strong gains in OPM of 250bps indicate improved efficiency and productivity gains despite sustained S&M investments. The company has been delivering strong revenue growth compared to its peers with improved profitability profile. We maintain our positive stance on the stock in view of its optimistic commentary on the environment and confidence on sustenance on performance," the firm has stated in its research report.
IIFL is bullish on Hexaware Technologies and has recommended a buy rating on the stock with a target price of Rs 122 in its July 26, 2012 research report.
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