Top stock pick with Anil Singhvi: Buy Wipro shares for great returns, says Vikas Sethi

Top Stock Pick With Anil Singhvi: Amid sharp rally in the banking stocks, Zee Business Managing Editor Anil Singhvi has been busy finding stocks that will remain in focus next week. In this regard, the Market Guru talked to Vikas Sethi and asked his top stock pick that is going to remain in focus in coming few trade sessions and the Managing Director at Sethi Finmart picked the Wipro share.

Speaking on the reason, Sethi told Anil Singhvi, "Wipro's quarterly results are coming next Tuesday and apart from the result, the company is mulling of shares buyback on the lines of TCS. So, the Wipro share price is expected to remain bullish next week on the buyback news."

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Asked about the expected buyback volume Sethi said, "Last time when Wipro had gone for the share buyback, they had done around Rs 10,500 crore share buyback while on this occasion, I am expecting it to be around Rs 12,500 crore. And at the time of buyback, the Wipro share price would be around Rs 420 per stock levels."

Sethi went on to add that like TCS, the second quarter results of the Wipro company is also expected to be on the positive sides as the company is one of the major IT companies.

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On his suggestion to the stock market traders and investors in regard to the Wipro shares the Sethi Finmart expert said, "One can buy Wipro share at around Rs 368 for the immediate target of Rs 385 to Rs 390 maintaining the stop loss at Rs 360."