Wipro down on Premji's plan to sell stake

Shares in Wipro Ltd fell after the company said that a trust controlled by its billionaire founder Azim Premji plans to sell up to 35 million shares, or around 1.4% in the company.

"This will definitely increase the number of shares available for trade in the market," said an institutional sales person.

At 10:47 a.m., shares of Wipro were down 1.4% at Rs 431.60 on Bombay Stock Exchange.