Wipro hits new high, trades close to buyback price of Rs 400

Analysts believe cultural shift and growth focus was long overdue in Wipro and see bold management initiatives translating into large deal wins for the company

Shares of Wipro hit a new high of Rs 390, up 2 per cent, on the BSE on Tuesday, and were trading close to the share buyback price of Rs 400 per share.

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

The company will buy back share from all the eligible shareholders of the company