Morgan Stanley has maintained its ‘Underweight’ rating on Wipro, setting a target price of ₹250 per share. The brokerage noted that while Wipro’s acquisition of Applied Value Tech is strategic in terms of capability enhancement and adding marquee clients to its portfolio, the small scale of the deal limits its overall financial impact.
The firm highlighted that this acquisition follows the larger acquisitions of Capco (2021) and Rizing (2022). Given the scale, Morgan Stanley expects minimal impact on Wipro’s financial performance in FY25 and FY26.
The current market price (CMP) of Wipro stands at ₹308.70, indicating a downside potential based on the target price.
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