Wipro a performer

Wipro with a target price of Rs 470 in its September 1, 2008 research report. "Wipro Ltd, according to media reports may buy a German competitor that advises companies running business software made by SAP AG. According to the management, the target company is expected to have sales of about USD 100 million to USD 200 million and would have a strong German presence, Wipro wants to have a stronger presence in Germany. It is believed that the company is working on a few targets.