Intrinsic value of Wipro ADR - WIT

Previous Close

$5.28

  Intrinsic Value

$134.38

stock screener

  Rating & Target

str. buy

+999%

Previous close

$5.28

 
Intrinsic value

$134.38

 
Up/down potential

+999%

 
Rating

str. buy

We calculate the intrinsic value of WIT stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.5

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  8,537
  8,734
  8,958
  9,210
  9,489
  9,796
  10,129
  10,490
  10,879
  11,297
  11,743
  12,220
  12,728
  13,267
  13,839
  14,446
  15,088
  15,767
  16,484
  17,241
  18,040
  18,883
  19,772
  20,708
  21,693
  22,731
  23,824
  24,974
  26,183
  27,455
Variable operating expenses, $m
  7,133
  7,292
  7,474
  7,679
  7,905
  8,154
  8,424
  8,717
  9,033
  9,371
  9,525
  9,912
  10,323
  10,761
  11,225
  11,717
  12,238
  12,788
  13,370
  13,984
  14,633
  15,316
  16,037
  16,796
  17,595
  18,437
  19,323
  20,256
  21,237
  22,269
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  7,133
  7,292
  7,474
  7,679
  7,905
  8,154
  8,424
  8,717
  9,033
  9,371
  9,525
  9,912
  10,323
  10,761
  11,225
  11,717
  12,238
  12,788
  13,370
  13,984
  14,633
  15,316
  16,037
  16,796
  17,595
  18,437
  19,323
  20,256
  21,237
  22,269
Operating income, $m
  1,404
  1,441
  1,484
  1,531
  1,584
  1,642
  1,705
  1,773
  1,847
  1,926
  2,218
  2,308
  2,404
  2,506
  2,614
  2,729
  2,850
  2,978
  3,114
  3,257
  3,408
  3,567
  3,735
  3,912
  4,098
  4,294
  4,500
  4,718
  4,946
  5,186
EBITDA, $m
  1,831
  1,873
  1,922
  1,976
  2,036
  2,101
  2,173
  2,250
  2,334
  2,423
  2,519
  2,621
  2,730
  2,846
  2,969
  3,099
  3,237
  3,382
  3,536
  3,699
  3,870
  4,051
  4,241
  4,442
  4,654
  4,876
  5,111
  5,357
  5,617
  5,890
Interest expense (income), $m
  30
  115
  118
  121
  125
  130
  135
  141
  147
  153
  160
  168
  176
  185
  194
  204
  215
  226
  237
  250
  263
  277
  291
  307
  323
  340
  358
  377
  397
  418
  440
Earnings before tax, $m
  1,290
  1,324
  1,363
  1,406
  1,454
  1,507
  1,564
  1,626
  1,693
  1,765
  2,050
  2,132
  2,219
  2,312
  2,410
  2,514
  2,624
  2,741
  2,864
  2,994
  3,131
  3,276
  3,428
  3,589
  3,758
  3,936
  4,123
  4,320
  4,528
  4,746
Tax expense, $m
  348
  357
  368
  380
  393
  407
  422
  439
  457
  477
  554
  576
  599
  624
  651
  679
  709
  740
  773
  808
  845
  884
  926
  969
  1,015
  1,063
  1,113
  1,167
  1,223
  1,281
Net income, $m
  941
  966
  995
  1,026
  1,062
  1,100
  1,142
  1,187
  1,236
  1,289
  1,497
  1,556
  1,620
  1,688
  1,759
  1,835
  1,916
  2,001
  2,091
  2,186
  2,286
  2,391
  2,503
  2,620
  2,743
  2,873
  3,010
  3,154
  3,305
  3,465

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  9,180
  9,391
  9,632
  9,903
  10,203
  10,533
  10,892
  11,280
  11,698
  12,147
  12,627
  13,140
  13,686
  14,265
  14,881
  15,533
  16,223
  16,953
  17,725
  18,539
  19,398
  20,305
  21,260
  22,266
  23,326
  24,442
  25,617
  26,853
  28,154
  29,522
Adjusted assets (=assets-cash), $m
  9,180
  9,391
  9,632
  9,903
  10,203
  10,533
  10,892
  11,280
  11,698
  12,147
  12,627
  13,140
  13,686
  14,265
  14,881
  15,533
  16,223
  16,953
  17,725
  18,539
  19,398
  20,305
  21,260
  22,266
  23,326
  24,442
  25,617
  26,853
  28,154
  29,522
Revenue / Adjusted assets
  0.930
  0.930
  0.930
  0.930
  0.930
  0.930
  0.930
  0.930
  0.930
  0.930
  0.930
  0.930
  0.930
  0.930
  0.930
  0.930
  0.930
  0.930
  0.930
  0.930
  0.930
  0.930
  0.930
  0.930
  0.930
  0.930
  0.930
  0.930
  0.930
  0.930
Average production assets, $m
  2,143
  2,192
  2,248
  2,312
  2,382
  2,459
  2,542
  2,633
  2,731
  2,835
  2,948
  3,067
  3,195
  3,330
  3,474
  3,626
  3,787
  3,957
  4,137
  4,328
  4,528
  4,740
  4,963
  5,198
  5,445
  5,706
  5,980
  6,268
  6,572
  6,891
Working capital, $m
  1,417
  1,450
  1,487
  1,529
  1,575
  1,626
  1,681
  1,741
  1,806
  1,875
  1,949
  2,029
  2,113
  2,202
  2,297
  2,398
  2,505
  2,617
  2,736
  2,862
  2,995
  3,135
  3,282
  3,437
  3,601
  3,773
  3,955
  4,146
  4,346
  4,558
Total debt, $m
  2,178
  2,245
  2,321
  2,406
  2,500
  2,604
  2,717
  2,840
  2,971
  3,113
  3,264
  3,425
  3,597
  3,780
  3,974
  4,179
  4,397
  4,627
  4,870
  5,126
  5,397
  5,682
  5,983
  6,300
  6,634
  6,986
  7,356
  7,745
  8,155
  8,586
Total liabilities, $m
  2,892
  2,958
  3,034
  3,119
  3,214
  3,318
  3,431
  3,553
  3,685
  3,826
  3,978
  4,139
  4,311
  4,494
  4,687
  4,893
  5,110
  5,340
  5,583
  5,840
  6,110
  6,396
  6,697
  7,014
  7,348
  7,699
  8,069
  8,459
  8,868
  9,299
Total equity, $m
  6,288
  6,433
  6,598
  6,784
  6,989
  7,215
  7,461
  7,727
  8,013
  8,321
  8,650
  9,001
  9,375
  9,772
  10,193
  10,640
  11,113
  11,613
  12,141
  12,699
  13,288
  13,909
  14,563
  15,252
  15,978
  16,743
  17,548
  18,394
  19,285
  20,222
Total liabilities and equity, $m
  9,180
  9,391
  9,632
  9,903
  10,203
  10,533
  10,892
  11,280
  11,698
  12,147
  12,628
  13,140
  13,686
  14,266
  14,880
  15,533
  16,223
  16,953
  17,724
  18,539
  19,398
  20,305
  21,260
  22,266
  23,326
  24,442
  25,617
  26,853
  28,153
  29,521
Debt-to-equity ratio
  0.350
  0.350
  0.350
  0.350
  0.360
  0.360
  0.360
  0.370
  0.370
  0.370
  0.380
  0.380
  0.380
  0.390
  0.390
  0.390
  0.400
  0.400
  0.400
  0.400
  0.410
  0.410
  0.410
  0.410
  0.420
  0.420
  0.420
  0.420
  0.420
  0.420
Adjusted equity ratio
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  941
  966
  995
  1,026
  1,062
  1,100
  1,142
  1,187
  1,236
  1,289
  1,497
  1,556
  1,620
  1,688
  1,759
  1,835
  1,916
  2,001
  2,091
  2,186
  2,286
  2,391
  2,503
  2,620
  2,743
  2,873
  3,010
  3,154
  3,305
  3,465
Depreciation, amort., depletion, $m
  427
  432
  438
  444
  451
  459
  468
  477
  487
  498
  301
  313
  326
  340
  354
  370
  386
  404
  422
  442
  462
  484
  506
  530
  556
  582
  610
  640
  671
  703
Funds from operations, $m
  1,368
  1,398
  1,433
  1,471
  1,513
  1,559
  1,610
  1,664
  1,723
  1,786
  1,797
  1,869
  1,946
  2,027
  2,114
  2,205
  2,302
  2,405
  2,513
  2,627
  2,748
  2,875
  3,009
  3,150
  3,299
  3,455
  3,620
  3,794
  3,976
  4,168
Change in working capital, $m
  28
  33
  37
  42
  46
  51
  55
  60
  65
  69
  74
  79
  84
  90
  95
  101
  107
  113
  119
  126
  133
  140
  147
  155
  164
  172
  181
  191
  201
  211
Cash from operations, $m
  1,341
  1,366
  1,395
  1,429
  1,467
  1,509
  1,554
  1,605
  1,659
  1,717
  1,723
  1,790
  1,862
  1,938
  2,019
  2,105
  2,196
  2,292
  2,394
  2,501
  2,615
  2,735
  2,861
  2,995
  3,135
  3,283
  3,439
  3,603
  3,775
  3,957
Maintenance CAPEX, $m
  -214
  -219
  -224
  -229
  -236
  -243
  -251
  -259
  -269
  -279
  -289
  -301
  -313
  -326
  -340
  -354
  -370
  -386
  -404
  -422
  -442
  -462
  -484
  -506
  -530
  -556
  -582
  -610
  -640
  -671
New CAPEX, $m
  -44
  -49
  -56
  -63
  -70
  -77
  -84
  -91
  -98
  -105
  -112
  -120
  -127
  -135
  -144
  -152
  -161
  -170
  -180
  -190
  -201
  -212
  -223
  -235
  -247
  -261
  -274
  -289
  -304
  -319
Cash from investing activities, $m
  -258
  -268
  -280
  -292
  -306
  -320
  -335
  -350
  -367
  -384
  -401
  -421
  -440
  -461
  -484
  -506
  -531
  -556
  -584
  -612
  -643
  -674
  -707
  -741
  -777
  -817
  -856
  -899
  -944
  -990
Free cash flow, $m
  1,083
  1,098
  1,115
  1,136
  1,161
  1,189
  1,220
  1,254
  1,292
  1,334
  1,322
  1,370
  1,421
  1,477
  1,535
  1,598
  1,665
  1,735
  1,810
  1,889
  1,973
  2,061
  2,155
  2,253
  2,357
  2,467
  2,582
  2,704
  2,832
  2,967
Issuance/(repayment) of debt, $m
  54
  67
  76
  85
  95
  104
  113
  122
  132
  141
  151
  161
  172
  183
  194
  205
  217
  230
  243
  257
  271
  285
  301
  317
  334
  352
  370
  389
  410
  431
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  54
  67
  76
  85
  95
  104
  113
  122
  132
  141
  151
  161
  172
  183
  194
  205
  217
  230
  243
  257
  271
  285
  301
  317
  334
  352
  370
  389
  410
  431
Total cash flow (excl. dividends), $m
  1,137
  1,164
  1,191
  1,222
  1,255
  1,292
  1,333
  1,377
  1,424
  1,475
  1,473
  1,531
  1,593
  1,659
  1,729
  1,803
  1,882
  1,965
  2,053
  2,146
  2,244
  2,347
  2,456
  2,570
  2,691
  2,818
  2,952
  3,093
  3,242
  3,398
Retained Cash Flow (-), $m
  -125
  -145
  -165
  -186
  -206
  -226
  -246
  -266
  -287
  -308
  -329
  -351
  -374
  -397
  -422
  -447
  -473
  -500
  -528
  -558
  -589
  -621
  -654
  -689
  -726
  -765
  -805
  -847
  -891
  -937
Prev. year cash balance distribution, $m
  1,256
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  2,267
  1,020
  1,026
  1,036
  1,050
  1,067
  1,087
  1,111
  1,138
  1,167
  1,144
  1,180
  1,220
  1,262
  1,308
  1,357
  1,409
  1,465
  1,525
  1,588
  1,655
  1,726
  1,801
  1,881
  1,965
  2,054
  2,148
  2,247
  2,351
  2,461
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  2,174
  934
  893
  853
  814
  774
  734
  694
  653
  612
  543
  504
  464
  424
  384
  345
  307
  270
  235
  202
  171
  143
  118
  96
  76
  60
  46
  35
  26
  19
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Wipro Limited (Wipro) is a global information technology (IT) services provider. It operates through two segments: IT Services and IT Products. The Company's IT Services business provides a range of IT and IT-enabled services, which include digital strategy advisory, customer centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, global infrastructure services, analytics services, business process services, research and development and hardware and software design. The IT Products segment provides a range of third-party IT products, which allows it to offer IT system integration services. Its products include computing, Platforms and Storage, Networking Solutions, Enterprise Information Security, and software products, including databases and operating systems. The Company is a reseller of third-party enterprise products through its direct sales force.

FINANCIAL RATIOS  of  Wipro ADR (WIT)

Valuation Ratios
P/E Ratio 20.1
Price to Sales 3.1
Price to Book 3.3
Price to Tangible Book
Price to Cash Flow 18.4
Price to Free Cash Flow 23.7
Growth Rates
Sales Growth Rate 7.4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 49.3%
Cap. Spend. - 3 Yr. Gr. Rate 18.6%
Financial Strength
Quick Ratio 3
Current Ratio 0.1
LT Debt to Equity 3.8%
Total Debt to Equity 27.4%
Interest Coverage 56
Management Effectiveness
Return On Assets 11.4%
Ret/ On Assets - 3 Yr. Avg. 13.6%
Return On Total Capital 13.5%
Ret/ On T. Cap. - 3 Yr. Avg. 16.6%
Return On Equity 17.2%
Return On Equity - 3 Yr. Avg. 20.2%
Asset Turnover 0.7
Profitability Ratios
Gross Margin 28.9%
Gross Margin - 3 Yr. Avg. 30.3%
EBITDA Margin 24.6%
EBITDA Margin - 3 Yr. Avg. 25.6%
Operating Margin 17.1%
Oper. Margin - 3 Yr. Avg. 18.8%
Pre-Tax Margin 20%
Pre-Tax Margin - 3 Yr. Avg. 22.1%
Net Profit Margin 15.4%
Net Profit Margin - 3 Yr. Avg. 17.1%
Effective Tax Rate 22.8%
Eff/ Tax Rate - 3 Yr. Avg. 22.3%
Payout Ratio 10.3%

WIT stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the WIT stock intrinsic value calculation we used $8369.75422427 million for the last fiscal year's total revenue generated by Wipro ADR. The default revenue input number comes from 0001 income statement of Wipro ADR. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our WIT stock valuation model: a) initial revenue growth rate of 2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for WIT is calculated based on our internal credit rating of Wipro ADR, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Wipro ADR.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of WIT stock the variable cost ratio is equal to 83.6%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for WIT stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Wipro ADR.

Corporate tax rate of 27% is the nominal tax rate for Wipro ADR. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the WIT stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for WIT are equal to 25.1%.

Life of production assets of 9.8 years is the average useful life of capital assets used in Wipro ADR operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for WIT is equal to 16.6%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $7418.37173579 million for Wipro ADR - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 101.497 million for Wipro ADR is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Wipro ADR at the current share price and the inputted number of shares is $0.5 billion.

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COMPANY NEWS

▶ Wipro Earns Supplier Recognition from Visteon Corporation   [Nov-14-18 08:26AM  Business Wire]
▶ The H-1B Visa Issue Explained   [Oct-23-18 09:40AM  Investopedia]
▶ Wipro Launches Innovation and Talent Hub in Reading, UK   [Oct-11-18 08:46AM  Business Wire]
▶ Wipro Joins Duck Creek Technologies Alliance Program   [Sep-11-18 09:40AM  Business Wire]
▶ Indian tech company unveils Plano tech hub, could make up to 450 hires   [Mar-28-18 01:40PM  American City Business Journals]
▶ Wipro Launches Texas Technology Center in Plano   [Mar-27-18 09:16AM  Business Wire]
▶ Wipro, First Book, Bring New Books to Chicago Area Kids   [Mar-09-18 08:03AM  Business Wire]
▶ SA cybersecurity business sells minority stake for $8.8M; sees global growth   [Mar-02-18 03:01PM  American City Business Journals]
▶ Wipro upbeat on 2018 after quarterly profit dip   [Jan-19-18 11:23AM  Reuters]
▶ Should Wipro Limiteds (NSE:WIPRO) Recent Earnings Worry You?   [Jan-04-18 05:50AM  Simply Wall St.]
▶ Does Wipro Limiteds (NYSE:WIT) Debt Level Pose A Problem?   [Jan-01-18 06:35AM  Simply Wall St.]
▶ Wipro faces lawsuit by National Grid US   [Dec-01-17 11:13AM  Reuters]

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