Last updated: 20 Nov, 2020 | 11:47 am
Wipro has fixed December 11th as the record date for its ₹9,500 cr buyback programme. Accordingly, in case you continue to hold the shares till that date, you will be eligible to participate in the buyback.
Outlook on Wipro’s business
Last month, global brokerages had raised concerns about Wipro’s business growth, after the company declared its Q2 results.
Wipro shares have fallen by over 9% in the last two days to ₹341.50, after global brokerages have raised concerns that the company’s growth may continue to lag peers.
Wipro has seen four chief executives in the last decade and has lagged its peers in growth. It lost its third position to HCL Technologies in the previous fiscal year. The New CEO Theirry Delaporte took charge from July 6th.
In Q2FY21, Wipro has reported better-than-anticipated numbers. Wipro has seen a great quarter with growth in revenues, expansion of margins and robust cash generation. However, given their market leader position and stronger execution capabilities, peers TCS and Infosys may continue to gain market share going forward. Given this outlook, we recommend that you tender your shares in the upcoming buyback.