Wipro advances 3%, hits fresh high; trades above share buyback of Rs 400

In the past three months, share price of Wipro gained 14 per cent but underperformed its peers HCL Technologies and Infosys, which rallied 20 per cent and 23 per cent, respectively

Shares of Wipro hit a fresh all-time high of Rs 410, up 3 per cent on the BSE, in intra-day trade on Tuesday and was quoting above its buyback price of Rs 400 per share.

IT services major Wipro's share buyback programme commenced on December 29 and will close on January 11, 2021. In November, shareholders had approved the buyback plan for purchase of up to 237.5 crore equity shares at Rs 400 per share, aggregating to an amount of up to Rs 9,500 crore.

In the past three months, share price of Wipro gained 14 per cent but underperformed its peers