Bonus Alert: Azim Premji’s Flagship Company Declares Record Date For Free Share
India’s fourth-largest IT company has declared its record date for the issuance of bonus shares, providing additional shares free of cost to its shareholders.
Wipro Ltd, India’s fourth-largest IT company has declared its record date for the issuance of bonus shares, providing additional shares free of cost to its shareholders.
"The Board of Directors has fixed Tuesday, December 3, 2024, as the record date for the purpose of determining the equity shareholders of the company eligible for bonus equity shares (including stock dividend on ADS) of the Company," the filing read.
On October 17, 2024, the Board of Directors of Wipro Ltd approved and recommended a bonus issue of equity shares to shareholders in the proportion of 1:1, which implies 1 bonus share of Rs 2 each for every 1 fully paid-up equity share held. Additionally, a stock dividend will be issued to holders of American Depositary Shares (ADS) in the ratio of 1 ADS for every 1 ADS held.
Quarterly Performance
For the quarter ending September 30, 2024, Wipro reported gross revenue of Rs 223.0 billion (USD 2,662.6 million), reflecting a 1.5 per cent increase quarter-on-quarter (QoQ) but a 1.0 per cent decrease year-on-year (YoY).
The IT services segment revenue stood at USD 2,660.1 million, up 1.3 per cent QoQ and down 2.0 per cent YoY. On a non-GAAP basis, the constant currency revenue for the IT services segment saw a 0.6 per cent QoQ increase and a 2.3 per cent YoY decline.
The IT services operating margin for the quarter was 16.8 per cent, an increase of 0.3 per cent QoQ and 0.7 per cent YoY. Net income for the quarter was reported at Rs 32.1 billion (USD 383.1 million), marking a 6.8 per cent increase QoQ and a 21.3 per cent increase YoY. Earnings per share reached Rs 6.14 (USD 0.071), also up 6.8 per cent QoQ and 21.3 per cent YoY.
DSIJ's 'Large Rhino' service recommends blue chip stocks of Large Cap companies that have leadership positions in their category. If this interests you, do download the service details here.
Stock Price Performance
Today, the shares of Wipro Ltd closed at around Rs 571 each, compared to the previous day's closing price of Rs 557.15 per share on the NSE. The company's current market capitalization stands at Rs 2.99 lakh crore. Additionally, the company’s shares have delivered around a 43 per cent return in the past year.
Disclaimer: The article is for informational purposes only and not investment advice.