Overview
- Wipro said Thursday its board will consider a share buyback on April 15–16, with March-quarter results due April 16 and the outcome to be filed soon after.
- The company has not disclosed the proposed buyback size, price, or route, saying those details will follow the board’s decision.
- Brokerages estimate Wipro holds about Rs 41,000 crore in net cash, roughly one-fifth of its market value, giving it room to return money to investors.
- If approved, this would be the first buyback since June 2023, when Wipro repurchased Rs 12,000 crore of stock at Rs 445 per share, equal to about 4.91% of equity.
- Wipro shares traded near Rs 203 on April 9 after recent swings, and investors are watching whether a repurchase, a common way to lift earnings per share, can steady sentiment.