🌟 Wipro🌟
🌟 About📊: Wipro is an Indian Multinational Company that provides various services like information technology, consulting, and business process services. Headquartered in Bangalore, the company was founded in 1945 by Mr.Premji.📊
🌟 Results Highlights:
❧ The company posted a jump of 4%📈 in consolidated net profit to Rs.3092 Cr for the quarter that ended on 31 st March 2022.📊
❧ It's consolidated revenue grew by 28% to Rs.20860 Cr.📈
❧ IT services operating margin for the quarter was 17% decrease of 60 bps QoQ.
❧ EPS was at Rs.5.64 for the quarter with increase of 4.6% YoY.📊
❧ Operating Cash flow was Rs.23.3 billion which is 75.5% of its Net Income.
❧ PEG ratio of the company is at 0.98%📊
What is PEG ratio?
It is the ratio of company's shares price to earnings to the growth rate of its earnings in the specific time period.📈
❧ Company is having an effective cash conversion ratio of 126.51
❧ Strong promoter holding is one of the key strength of the company.📊
🌟 Technicals:
❧ With the breakdown in the IT sector, weakness was observed in the charts of wipro as well.📊
❧ Stock was falling from📈 last few trading sessions as shown in the image.
❧ There is no significant movement in the volumes to initiate trade.
❧ It is also moving near its important support zones.📈
❧ RSI is not showing any strength for long position one can wait for some pull back to initiate a trade.
❧ Both the 200 EMA and 50 DMA 📊 are well above its current market price. Selling pressure in IT sector may further affect the stock.
Disclaimer: The information mentioned above is only for educational purposes. Kindly contact your financial advisor before trading/investing 💰
Please post your views/queries in the comments below. 👇
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