Brokerage Firm Rating Update on Wipro Limited (WIT)

Wipro Limited (WIT) : 3 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Wipro Limited (WIT). Zacks Investment Research suggests a Sell with a rank of 4.The median of all the 3 Wall Street Analysts endorse the stock as a Hold with a rating of 3.


Company shares have received an average consensus rating of Hold for the current week Also, Brokerage firm HSBC downgrades its rating on Wipro Limited (NYSE:WIT). The shares have been rated Reduce. Previously, the analysts had a Hold rating on the shares. The rating by the firm was issued on August 9, 2016.

Wipro Limited (NYSE:WIT): stock was range-bound between the intraday low of $10.19 and the intraday high of $10.36 after having opened at $10.35 on Wednesdays session. The stock finally closed in the red at $10.35, a loss of -1.16%. The stock remained in the red for the whole trading day. The total traded volume was 435,151 shares. The stock failed to cross $10.36 in Wednesdays trading. The stocks closing price on Thursday was $10.34.

Wipro Limited (Wipro) is a global information technology (IT) services provider. The Company operates through two segments: IT Services and IT Products. The Companys IT Services business provides a range of IT and IT-enabled services, which include IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, global infrastructure services, business process services, research and development and hardware and software design to the enterprises worldwide. The IT Products segment provides a range of third-party IT products, which allows it to offer IT system integration services. These products include computing, storage, networking, security and software products, including databases and operating systems. The Companys development centers are located around the world, including in India, the United States, Europe, Australia, the Philippines and China.

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