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Wipro rises after fixing record date for buyback

Capital Market 

Wipro was up 0.51% to Rs 292.80 at 9:51 IST on the BSE after the company fixed 21 June 2019, as the record date for the proposed buyback of shares.

The announcement was made after market hours on 3 June 2019.

Meanwhile, the S&P BSE Sensex down 44.70 points, or 0.11% to 40,222.92.

On the BSE, 2.88 lakh shares were traded in the counter so far compared with average daily volumes of 4.42 lakh shares in the past two weeks. The stock had hit a high of Rs 294.80 and a low of Rs 290.85 so far during the day. It hit a 52-week high of Rs 299.25 on 2 May 2019 and a 52-week low of Rs 190.13 on 6 June 2018.

Wipro plans to buyback up to 32.30 crore fully paid-up equity shares of Rs 2 each, representing up to 5.35% of the total paid-up equity share capital of the company, at a price of Rs 325 per share, for an aggregate amount of up to Rs 10,500 crore.

Wipro's consolidated net profit declined 1.07% to Rs 2,483.50 crore on 0.35% fall in net sales to Rs 15,006.30 crore in Q4 March 2019 over Q3 December 2018.

Wipro is a global information technology, consulting and business process services company.

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

First Published: Tue, June 04 2019. 09:53 IST