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Wipro signs a five-year deal with Vasan Eye Care
Wipro has signed a five-year contract with Vasan Eye Care – a unit of Vasan’s healthcare
group. The scope of service includes entire IT infrastructure management encompassing
the complete gamut of data centre management and end-user support services. Vasan’s
network of hospitals comprises close to 75 independent hospitals, distributed across four
southern states of India, and caters to five million patients a year. This deal would augur
well for Wipro to expand its footprint in the healthcare service vertical, which currently
contributes 8.8% to the company’s revenue and is now gaining good traction. At the CMP
of `450, the stock is trading at 18.1x FY2012E EPS of `24.8. We recommend a Neutral
rating on the stock.
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