No reason to sell Wipro and no reason to buy Bandhan Bank now: Sandip Sabharwal

economictimes.indiatimes.com:

Sandip Sabharwal, asksandipsabharwal.com, says “the IT outsourcing industry is facing challenges in terms of demand but this could incrementally be positive in my view. I do not think this is incrementally negative. Most analysts are giving a sell on Wipro today; I am not so sure about that. This is something to be tracked.”

Sabharwal further says that “it seems very clear that the main reason for Chandra Shekhar Ghosh resigning as CEO & MD of Bandhan Bank could be some reservation from the regulator, although we are not privy to that. Otherwise, when the board had approved his extension, there was no reason for him to step down.”
Maybe we can start off with your take as to what is going on with respect to Wipro? There has always been a lot of uncertainty with respect to the top position at Wipro. Do you think that even with the new CEO, the improvement is going to be gradual? How do you expect the stock to react?
Sandip Sabharwal: It will be a gradual process.

It has been a continuous musical chase kind of thing at Wipro where a new CEO comes in but the company continues to underperform. Their choice of CEOs also has been a suspect where they have tried to hire expats, etc, who find it tough to adjust to maybe managing the company.

I think that was the issue and insider taking over could actually be more positive than what most of the analysts are putting out.

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