Buyback offer the only silver lining for Wipro

Muted guidance for Sept quarter, challenges in the health care vertical will keep margins subdued

The Wipro stock was up nearly 6.5 per cent reacting to the buyback offer and the fact that its June quarter numbers marginally beat expectations. The company delivered a sequential revenue growth of 0.3 per cent which beat its own revenue guidance of 0 to -2 per cent. The growth in the revenues was led by a strong performance in the financial services, energy and utility as well as the consumer segments. The management is optimistic about growth prospects in the financial services and energy verticals which is expected to be pick up in the latter half of FY18. While