BFSI Bolsters Wipro's 2Q Results, Digital Services Remain Big Focus; Shares Near Fair Value
Wipro reported a decent second quarter with the firm posting IT service revenue slightly above company guidance after adjusting for currency movements. Like the company’s first quarter, the important banking, financial services, and insurance business (about 30% of total revenue) buoyed the quarterly revenue performance. We were expecting such a performance from the BFSI segment, though, because of peers such as TCS and Infosys seeing similar trends. We believe the health of the BFSI market is a...
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