March 15, 2018 / 4:02 AM / 3 months ago

BUZZ-India's Wipro shares up; Co to divest data centre services business

** Wipro Ltd rises as much as 2.1 pct to 300 rupees; stock top pct gainer on NSE index

** Co to divest hosted data centre services business to Ensono for $405 mln and to invest $55 mln in Ensono’s combined entity

** With this divestment and partnership, Wipro can focus more on digital while at the same time continue to offer infra management services, say Credit Suisse analysts in a note

** “Profitability of this business might be below company average, hence the EBIT impact would be low,” Credit Suisse says; CS rates stock “underperform’ with PT of 290 rupees

** Four of 41 brokerages rate the stock “buy” or higher, 13 “hold” and 24 “sell” or lower; their median PT is 295 rupees

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below