PORTFOLIO UPDATE!!!
1] WIPRO
The IT major announced okay set of numbers yesterday. Ofc the stock movement today, does not encourage any investor to buy this stock, but one needs to understand for a meer 1% margin fall the company looses almost 20000cr market cap even though the valuations are below its long term averages. The positive thing is the topline growth which has not been in negative, but it won’t benefit much if the margins don’t stop contracting. All the IT majors have talked about slowing attrition rate, so this will be a metric to watch out for next quarter. Holding this stock for next 2 quarters. I have immense faith in a company like Wipro. And any hardships faced by the company will only make it stronger.
2]ANGEL ONE
With highest ever quarterly revenues of more than 700crores, it has been a bumper quarter for Angel even though the markets have been pretty scary for the last one year. EPS crossing 25 this quarter and PE ratio way below its long term average of 22, this can be a good buying opportunity. With estimated PAT for this year of 800cr and Pe of 20, we can see a conservative stock price of 1800 if there is no major downturn in the market. But looking at the data composition of Angels active client base, a majority of their earnings come from Options and Commodity which are generally traded by professionals and these traders do not leave the market when there is a downturn. Also with increasing positivity around Indian Economy, we can see more and more investors coming into the market. Ofc the growth will slowdown but it wont be negative. Holding this stock till next quarter.
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