You are here: Home » News-CM » Equities » Hot Pursuit
Business Standard

Wipro hits 52-week high on buyback plan

Capital Market 

Wipro jumped 4.71% to Rs 351.05 after the IT major said its board will consider a share buyback on 13 October 2020.

"The outcome of the board meeting will be communicated to the stock exchanges soon after conclusion of the board meeting on October 13, 2020," Wipro said in a statement after market hours yesterday, 7 October 2020.

The firm will also announce its Q2 results on 13 October 2020 after stock market trading hours in India.

Wipro is a leading global information technology, consulting and business process services company. It reported a 2.82% rise in consolidated net profit to Rs 2,411.50 crore on a 5.07% decrease in net sales to Rs 14,913.10 crore in Q1 June 2020 over Q4 March 2020.

The stock hit a 52-week high of Rs 353.20 in initial trades today. The scrip has surged 119.95% from its 52-week low of Rs 159.60 hit on 19 March 2020.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, October 08 2020. 09:19 IST