Wipro said its Board and shareholders have approved the proposal to buyback up to 32.3 crore shares at a price of Rs 325 apiece
The company will repurchase 323.1 million shares, which represents 5.35 per cent of total paid-up equity share capital, at Rs 325 apiece, as per its stock exchange filing.
Wipro said the lawsuit is related to an enterprise resource planning implementation project
Wipro said the company had become a subject of litigation with a long-time customer, National Grid US
The IT firm has announced to buyback over 34.37 cr fully paid-up equity shares of face value Rs 2 each
The company said it will dispatch the Letter of Offer for the buyback to eligible shareholders appearing on the record date of June 21, 2019, on or before August 6, 2019.
Interview with Bhanumurthy B M, president and chief operating officer, Wipro
Over the last 8-10 quarters, we have consistently focused on specific areas such as digital and localisation, he said
The company will launch Giffy pan India in months to come
The company also announced share buyback of 3.23 crore shares at Rs 325 apiece, aggregating Rs 10,500 crore. Earnings per share (EPS) of the company stood at Rs 4.13 during the period under review
Since the past six months (October 2018 onwards till date), Wipro has outperformed the markets by rallying 16.6 per cent as compared to 6.5 per cent rise in the Nifty50
Wipro is scheduled to release its financial results for Dec quarter today. The earnings report of the company will be keenly watched for BFSI, participation in large deals and digital growth rates.
Commentary on recovery in top clients, outlook on spending in manufacturing and BFSI segments and guidance for the March quarter will some of the key things to watch
Stock's underperformance, discount to peers expected to ease as software major catches up on revenue growth
The British utility major had filed a lawsuit in Dec last year seeking $140 mn towards damage with relation to an ERP project
In 2015, Wipro has floated $100 mn to invest in start-ups that are operating in cybersecurity, analytics, AI, etc
Wipro Ventures, managed by Biplab Adhya and Venu Pemmaraju, has invested in 16 early to mid-stage start-ups so far, including 11 in the US, 4 in Israel and 1 in India
The company guided lower-than-expected revenue growth of 0 per cent to 2 per cent in constant currency terms sequentially.
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