Wipro shares extended their winning streak to nine consecutive sessions on Tuesday, driven by the company's significant share buyback announcement. According to reports from Moneycontrol, the IT services company's stock rose amid the ₹15,000 crore buyback programme priced at ₹250 per share, representing a premium of about 21 percent over the stock's previous closing price of ₹206.84 on the NSE.
The board of directors of the Bengaluru-based company approved the buyback proposal on April 16 to repurchase up to 60 crore equity shares, representing more than 5 percent of its equity, at ₹250 per share. As reported by Moneycontrol, this marks the company's first share buyback announcement in nearly three years. The record date for the buyback has been fixed as June 5, with the company indicating that members of the promoter and promoter group intend to participate in the proposed buyback programme.
The company's recent financial results demonstrate robust performance across key metrics. According to the latest consolidated financial statements, Wipro reported Net Sales of ₹24,236.30 crore for March 2026, representing a 7.7% year-on-year growth. The company's Standalone Net Sales reached ₹18,362.80 crore, showing a 7.31% year-on-year increase. These figures reflect the company's continued growth trajectory and strong operational performance in the current financial year.
The current buyback represents a significant increase from the company's previous repurchase activity. According to Moneycontrol, the last buyback was undertaken in June 2023, when the company repurchased shares worth ₹12,000 crore between June 22 and June 30. During that period, Wipro bought back 26.96 crore equity shares, representing 4.91 percent of its total equity, at ₹445 per share. The current price is not adjusted for the 1:1 bonus issue announced in December 2024.
