Wipro share prices riseover 6% as board approves buyback of shares
DSIJ Intelligence / 21 Jul 2017
The board has approved a proposal to buyback 34,37,50,000 equity shares of the company for an aggregate amount of Rs 11,000 crore.
At Rs 287.45 per share, IT sector player Wipro soared 6.88% on BSE, as the company’s board has approved share buyback on Thursday.
The board has approved a proposal to buyback 34,37,50,000 equity shares of the company for an aggregate amount of Rs 11,000 crore.
The proposed buyback is subject to approval of shareholders by way of special resolution through postal ballot.
The company has been paying a dividend payout of 28.27%. On yearly basis, the stock has given 6.26% returns.
On NSE, the stock attracted a traded volume of 90,15,405 shares and a traded value of Rs 25,838.15 lakh.
The stock also traded on its new 52-week high of Rs 290.90 per share on NSE.