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21-Nov2017

Wipro trades higher on the bourses

Wipro is currently trading at Rs. 297.30, up by 2.70 points or 0.92% from its previous closing of Rs. 294.60 on the BSE.

The scrip opened at Rs. 298.25 and has touched a high and low of Rs. 298.25 and Rs. 296.10 respectively. So far 72385 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 308.40 on 07-Nov-2017 and a 52 week low of Rs. 218.98 on 21-Nov-2016.

Last one week high and low of the scrip stood at Rs. 300.00 and Rs. 293.10 respectively. The current market cap of the company is Rs. 144540.72 crore.

The promoters holding in the company stood at 73.18%, while institutions and non-institutions held 16.19% and 8.56% respectively.

Wipro is all set to open Rs 11,000 crore share buyback scheme on November 29 for Rs 320 a unit, at 8.6 per cent premium over current price. The company will buyback over 34.37 crore fully paid-up equity shares of face value Rs 2 each of the firm, representing up to 7.06 per cent of the total paid-up equity share capital, from all the fully paid-up equity shareholders/ beneficial owners of the shares as on the record date of September 15, 2017, on a proportionate basis.

The IT Company will process the buyback through a tender offer route, at a price of Rs 320 per equity share for an aggregate amount of up to Rs 11,000 crore. Share buybacks improve earnings per share and return surplus cash to shareholders, while also supporting share price during periods of sluggish market conditions.

Wipro is engaged in providing information technology solutions. It offers solutions for systems integration, information systems outsourcing, package implementation, system integration, network integration, software solutions and information technology services, software application development and maintenance and research and development services to corporations globally.


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