BANGALORE: Wipro's earnings per share will rise to $0.60 in the financial
year ending this month say analysts. (EPS) are forecast to surge 92.3 per cent
for the year to March, says a consensus estimate of three Wall Street analysts
polled by Multex.com.
In a report dated March 24, the online financial information provider said,
analysts expect Wipro's earnings to rise to $0.60 per share in the financial
year ending this month. Wipro's earnings are seen rising 53.3 per cent in the
year ending March 2002, the report said. Shares of the diversified Indian
technology (IT) giant ended 5.18 per cent, down at Rs1,416.50 at the Bombay
Stock Exchange on Thursday while the local IT index fell 5.36 per cent.
Earnings of Infosys Technologies Ltd., India's third largest software
exporter, are forecast to jump 114.6 per cent to $1.00 per share in the year to
March, Multex.com said in a separate report.
More than the current year's results, analysts will be especially interested
in the business outlook unveiled by India's top software exporters during the
earnings reporting season next month.
A cut in information technology spending by US firms has fuelled market
speculation about an adverse business impact on Indian software exporters as
over 60 per cent of the industry's exports go to the United States. Wipro, which
listed on the New York Stock Exchange last October, is expected to report
earnings of $0.19 per share in its fourth quarter ending this month, up 88 per
cent from a year-ago, Multex said in its report.
The research companies polled by Multex included Bank of America Securities,
Goldman Sachs and Merrill Lynch. Wipro's American Depositary Receipts were down
$1.42 at $33.27 in Thursday morning trade on the Nasdaq. Multex said the
analysts have an aggregate valuation of buy rating on Wipro's stock. Wipro's top
software clients include Nortel Networks , General Electric and Lucent
Technologies .
(C) Reuters Limited 2001.