Nomura upgrades India`s Wipro to `buy` on outlook

Nomura upgrades India's Wipro to 'buy' on outlook

Last Updated: Thu, Feb 28, 2013 03:35 hrs
Chairman of Wipro Ltd Premji speaks during a news conference in the southern Indian city of Bangalore

Nomura upgrades India's Wipro Ltd to "buy" from "neutral" and raises its target price to 490 rupees from 390 rupees.

The investment bank cites expectation for "an imminent" turnaround in growth on the back of an increase in its deal pipeline and a more stable outlook for U.S. demand.

Valuations discounts versus rivals Infosys Ltd and Tata Consultancy Services Ltd also turn risk reward more favourable, Nomura says.

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