Wipro: Attractive long-term bet

Wipro expects revenue from IT services business for quarter ended 30 Jun 2010 to be in the range of $1,190 mn to $1,215 mn. We expect company revenues to grow at a CAGR of 21% for next 2 years. At current market price, the stock is trading at 16.76 P/E multiple of its FY2011 Estimated EPS. We recommend investors to BUY �Wipro Ltd.� for medium to long-term investment horizon

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