Nomura has reiterated its ‘Buy’ rating on Wipro, with an increased target price of Rs 680, following strong performance in Q2 FY25. The brokerage highlighted robust large deal wins during the quarter, although guidance for Q3 reflects weak seasonality. Despite this, Wipro beat expectations across all parameters in Q2, with discretionary demand showing early signs of recovery. Nomura also praised the company’s strong execution on margins, which continues despite a weak growth environment. The stock is currently trading at approximately 19.2x FY27F earnings per share (EPS).
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