Wipro to consider share buyback proposal, decision on 13 Oct board meeting

Wipro is the second mega Indian IT services firm to consider a buyback programme after market leader TCS

IT services firm Wipro is considering to go for a share buyback programme, following a similar move by industry leader Tata Consultancy Services (TCS). 

The Bengaluru-headquartered firm, in a filing with the stock exchanges on Wednesday, said the company’s board of directors, in its meeting scheduled on October 13, would consider equity share buyback proposal. 

Wipro is the second-largest Indian IT services firms to consider a buyback programme. TCS, in its board meeting held on Wednesday, approved to proposal to go for a Rs 16,000-crore buyback programme at Rs 3,000 a piece.

Typically, the share buyback programme of a company reflects the belief