Wipro rallies 5%, hits fresh 20-year high on share buyback plan

Wipro's board will meet on Tuesday, October 13 to consider buyback proposal.

Shares of Wipro surged 5 per cent at Rs 353, hitting a fresh over 20-year high on the BSE in the early morning trade on Thursday after the company said the board will consider a buyback proposal on Tuesday, October 13. The stock hit a record high of Rs 368 on February 22, 2020.

Wipro is the third information technology (IT) company after Tata Consultancy Services (TCS) and Majesco to consider share buyback. TCS on Wednesday announced Rs 16,000 crore buyback at Rs 3,000 per equity share.

Earlier, on October 1, Wipro informed the stock exchange that the meeting of