Noida, Apr 10 (APAC Media): Shares of Wipro, a leading Indian IT services company, climbed as much as 2 pc to touch an intraday high of Rs 205 on the BSE on Friday. The surge came after the company announced that its board of directors will consider a proposal to buy back equity shares at its upcoming meeting scheduled for April 15–16, 2026.
The development comes just ahead of the company’s fourth-quarter earnings, drawing attention from investors and market analysts.
The development is largely on expected lines, with brokerage firm Investec estimating a potential buyback size of around Rs 16,000 crore.
Wipro Limited last undertook a buyback in June 2023, amounting to Rs 12,000 crore. The company repurchased 26.96 crore equity shares, or 4.91% of its total equity, at Rs 445 per share between June 22 and June 30. The price is not adjusted for the 1:1 bonus issue announced in December 2024.
In an official regulatory filing, the company stated that the board will deliberate on the buyback plan along with “matters necessary and incidental thereto,” said in a BSE Limited filing.
The intimation has been made under Regulation 29(1)(b) of the SEBI LODR Regulations, 2015, which requires listed companies to inform stock exchanges in advance about board meetings where buyback proposals are to be discussed.
“The proposed action will be carried out in compliance with the provisions of the Companies Act, 2013 and the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018, as amended from time to time” added in a filing.
A potential share buyback is viewed as a major catalyst for the stock, as such actions typically boost shareholder value and signal robust cash reserves. Wipro has a history of returning capital to shareholders through regular dividends and past buyback programmes, underscoring its focus on disciplined capital allocation.
The company has not yet revealed the size or price of the proposed buyback. These details, if approved, are expected to be announced after the board meeting concludes on April 16. Wipro also said the outcome will be promptly shared with stock exchanges in line with regulatory requirements.
Market participants will closely monitor both the buyback decision and the upcoming earnings for signals on Wipro’s growth outlook and strategic priorities in a challenging global IT spending environment.
