10 Apr , 2026 By : Debdeep Gupta
Wipro shares declined on Friday after the IT firm said it will consider a share buyback on April 16.
The stock was trading at Rs 201.49 per share on the NSE, down 0.72 percent. It has been on a losing trend for the past three trading sessions.
Earlier in the day, the stock had opened on a positive note, rising 2.8 percent, and touched an intra-day high of Rs 208.7, up 2.87 percent.
This will be the first instance in nearly three years that the Bengaluru-based IT services company will evaluate a share buyback. Its last buyback exercise was conducted in June 2023.
In that round, the company repurchased shares worth Rs 12,000 crore between June 22 and June 30, acquiring 26.96 crore equity shares, representing 4.91 percent of its total equity, at Rs 445 per share.
The company’s management had earlier said during its third-quarter results that buybacks would continue to be a key route to return excess cash to shareholders.
Earlier this week, the company secured an eight-year transformation deal with Singapore-based food and agri-business major Olam Group, which is expected to exceed about Rs 9,314 crore in contract value.
As part of the broader engagement, Wipro said it will acquire Olam Group's IT and digital services business, Mindsprint Pte. Ltd., for about Rs 3,494 crore.
"Wipro has secured a multi-year strategic transformation deal with Olam Group, a leading USD 50 Billion Food and Agri-business headquartered in Singapore, employing nearly 40,000 people, and majority-owned by Temasek Holdings. This 8-year deal with Olam Group is expected to exceed USD 1 billion in contract value, with a committed spend of USD 800 million.
"As part of this broader engagement, Wipro will acquire Mindsprint, Olam Group's IT services arm," Wipro said in an exchange filing on Monday.
0 Comment