Wipro gets shareholders’ approval for buyback proposal

The shares of Wipro soared by over 2% intraday on Thursday’s trading session after the company informed that its shareholders have given their nod for the company’s buyback proposal.

Last month, the company’s board approved a buyback proposal to purchase 343.75 million shares at Rs 320 each, amounting to a total of Rs 11,000 crore.
 
“The aforesaid special resolution has been passed through postal ballot and e-voting by members by requisite majority,” Wipro said in a filing to the BSE.

Wipro said it has fixed September 15, 2017 as the record date for the purpose of determining the entitlement and the names of equity shareholders who are eligible to participate in the share buyback.
The stock was trading up by 1.39% at Rs 295 per share on BSE at 1043 hours. It opened at Rs 295.50 per share. It touched its intraday high and low at Rs 296.90 and Rs 294.65 per share, respectively.

The stock attracted a total traded volume of 17,71,714 shares and traded value of Rs 5,235.24 lakh on NSE at 1045 hours. The stock's 52-week high stood at Rs 297.70 and 52-week low was Rs 204.05 as on November 9, 2016.

The company’s consolidated revenue for the Q1FY18 came in at Rs 13,626 crore, registering 5.4% QoQ decline. This was driven by 6.4% and 3.2% QoQ decline in the revenue of healthcare and life science and consumer business unit, respectively. PAT for the quarter came in at Rs 2,083 crore, QoQ decline of 8.1%.
 
 

Comments

Post a Comment

Popular posts from this blog

Top stocks in focus today: SBI, L&T, Bharat Fin, ONGC, Infosys, HDFC

Image
Ashok Leyland: Is looking at investing 4-5 bln rupees in its electric vehicle business over the next three to five years, Managing director Vinod Dasari said. Au Small Finance Bank: Has signed a three-year pact with Small Industries Development Bank of India to fund term  loan  proposals worth 2.5-20.0 mln rupees related to micro, small and medium enterprises. Bajaj Hindusthan Sugar: Board has approved the conversion of its  loan s from lenders into optionally convertible debentures or optionally convertible preference shares, under the Reserve Bank of India's scheme for sustainable structuring of stressed assets. Bharti Airtel: LPG subsidy recipients who had Airtel Payments Bank accounts were not getting their share of subsidy for the past few weeks, according to the Ministry of Petroleum and Natural Gas. Cadila Healthcare: Has received an approval from the US Food and Drug Administration to market Tamoxifen Citrate tablets USP in 10-mg, 20-mg strength. Cl
Read more

Live Stock Market Updates - Nifty, Sensex close to their morning highs; United Spirits gains by 16%

Image
Nifty and Sensex trading close to their morning highs as Pharma, FMCG and Auto Index pose strong gains. Pharma stocks up by 2.5%, lead by strong gains of Sun Pharma, Cipla, and Aurobindo Pharma, while Tata Motors lead the Auto Index. At 12:49 PM, the S&P BSE Sensex is trading at 33,276, up by 128 points, while NSE Nifty is trading at 10,355, up by 12 points. The BSE Mid-cap Index is trading up by 0.6% at 16,432 whereas BSE Small-cap Index is trading up by 0.58% at 17,356. Adani Ports, Sun Pharma, ITC, Bajaj Finance and Tata Motors are among the gainers, whereas YES Bank, Infratel, Bharti Airtel, Indian Oil and HPCL are losing steam on NSE. Some buying seen in Basic Materials, Healthcare, Industrials, Auto, Utilities, and Capital Goods,  while Energy, Telecom, Bank, and Oil & Gas sectors show weakness on the BSE. The INDIA VIX is down by 2.1% at 11.37. Out of 1,972 stocks traded on the NSE, 1,007 advanced, 633 declined, and 332 remained unchanged tod
Read more

Sensex, Nifty trade weak ahead of Gujarat exit polls; TCS, Wipro top losers

Image
Benchmark indices mildly recover after sharp fall, as investors eagerly awaited exit polls results later today after the end of second phase of Gujarat Assembly elections. The Sensex languished below the 33,000 level after skidding below that level in mid-morning trade. At 1:28 PM, the BSE Sensex was trading at 33,050, slipping 3 points, while the broader Nifty50 index was trading at 10,181, down 12 points. The selling pressure was broad-based, as the BSE Midcap Index fell 0.29% and the BSE Smallcap Index declined 0.28%. On the economy front, India's inflation based on the wholesale price index, stood at 3.93% for the month of November 2017, as compared to 3.59% for the previous month and 1.82% during the corresponding month of the previous year. Power, Consumer Durables, Utilities, IT and Industrial Index were the top losers on the BSE, while Pharma, Oil and Gas, Energy, Auto and Telecom were the top gainers. Capital goods stocks declined. BEML (-1.42%), Siemens (-1.18%), T
Read more