This company receives shareholders' nod for a buyback worth Rs 12,000 crore!
The company is the fourth-largest Indian player in the international IT services sector, after TCS, Infosys, and HCL Technologies.
Shareholders have given Wipro their approval for a share buyback exercise totalling Rs 12,000 crore. The Board previously authorised a proposal to repurchase up to 26,96,62,921 equity shares, or 4.91 per cent of the company's total paid-up equity shares, for a total of not more than Rs 12,000 crore at a price of Rs 445 per equity share. Indications of participation in the proposed buyback have been made by members of the company's promoter and promoter group.
The scrip opened today at Rs 404 and touched the day high and low of Rs 404 and Rs 395.70, respectively. Its 52-week high stood at Rs 476.20, whereas its 52-week low was Rs 351.85. The current market cap of the company is Rs 2,19,498.79 crore. Promoters hold 72.92 per cent, whereas Institutional and non-institutional holdings are 14.39 per cent and 12.69 per cent, respectively.
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Wipro ltd is a top provider of business process services, consulting, and information technology worldwide. The company helps its clients succeed in the digital world by leveraging the power of cognitive computing, hyper-automation, robots, cloud, analytics, and emerging technologies. A company recognized globally for its comprehensive portfolio of services, a strong commitment to sustainability and good corporate citizenship.