Tuesday, 19 April 2016

AFTER INFOSYS MARKET EYE ON WIPRO RESULTS TOMORROW

After Infosys and TCS, another IT major Wipro is all set to declare its fourth quarter and full-year results for the period ending March 31, on Tuesday. Besides results, the Wipro board will also consider a buyback plan. Analysts will be keen to get clarity on the number of shares Wipro would buy and the price at which it would buy them. The mode of buyback - open market purchase or tender process will also be an important factor to be watched. concern is energy space that continued to be headline risk on overall growth and top accounts. Energy contributes around 14.4 percent to overall revenue, though its contribution has come down from 16.4 percent in Q3FY15. Wipro is likely to end FY16 with dollar revenue growth of 4 percent while Q1FY17 guidance for dollar revenue growth is expected to be 2-4 percent or 3-5 percent. Typically Q1 is a soft quarter for the company. Dollar revenue growth in Q1FY16 was 1.1 percent and 1.16 percent in Q1FY15.Europe business will be closely watched as it declined by 1.4 percent in Q3.

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