Wipro’s Board to consider share buyback on April 20

The Azim Premji-led IT major had earlier informed the Bomaby Stock Exchange on March 29 this year the a proposal for buying back equity shares is on the cards.

Apr 12, 2016 07:04 IST India Infoline News Service

Wipro
Wipro Ltd, one of India’s leading IT companies, will consider share buyback at its upcoming meeting of Board of Directors, to be held on April 20.

The Azim Premji-led IT major had earlier informed the Bomaby Stock Exchange on March 29 this year the a proposal for buying back equity shares is on the cards.

As per the shareholding pattern of the company, the public shareholding stands at 26.05% as of December 31, 2015 and remaining is held by promoters and promoter group.

Wipro will announce its Q4 FY16 and full financial year results on April 20, 2016.

Wipro, while being impacted the most from oil price fall owing to much higher exposure to Energy vertical, is estimated to deliver strong growth of 2.8% qoq in cc terms. This would be driven by acceleration in execution on some large deals won over the past 12‐18 months, forecasts IIFL. 

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