Wipro board to consider stock repurchase on 13 October1 min read . Updated: 08 Oct 2020, 07:19 AM IST
This follows larger peer Tata Consultancy Services Ltd approving a ₹16,000 crore programme to buy back equity shares at ₹3,000 apiece
Wipro Ltd will discuss on 13 October a proposal to buyback its equity shares, the software services company said in a regulatory filing on Wednesday.
This follows larger peer Tata Consultancy Services (TCS) Ltd approving in a board meeting earlier in the day a ₹16,000 crore programme to buy back equity shares at ₹3,000 apiece.
Last year, the board of Wipro had approved a proposal for buying back up to 333 million shares at ₹325 per share, aggregating ₹10,500 crore, and comprising 3.69% of its total paid-up equity capital.
Wipro is set to announce its fiscal second quarter earnings on 13 October after market hours. “...the Board of Directors will be considering a proposal of buyback of equity shares of the company at the...meeting scheduled to be held on October 13, 2020," Wipro said in a regulatory filing.
However, no other details were provided.
Wipro closed 1.6% higher at ₹335.25 on BSE.
PTI contributed to this story.