Wipro jumps 3% as board fixes record date for bonus issue; Check details

Wipro shares gained 2.9 per cent in Friday's trade and logged an intraday high of Rs 573.45 per share on BSE. The buying interest sparked after the company declared a record date for a bonus issue.

 

Around 11:25 AM, Wipro share price was up 1.92 percent at Rs 567.9 per share on BSE. In comparison, the BSE Sensex was up 0.64 per cent at 77,647.92. The market capitalisation of the company stood at Rs 2,97,111.34 crore. The 52-week high of the company was at Rs 583 per share and 52-week low of the company was at Rs 393.2 per share.

 

Wipro's bonus record date is fixed as December 3, 2024, for the bonus issue. 

 

"The board of directors has fixed Tuesday, December 3, 2024, as the record date for the purpose of determining the equity shareholders of the company eligible for bonus equity shares (including stock dividend on ADS) of the Company," the filing read.

 

Wipro's board on October 17, 2024, approved the bonus issue in the proportion of 1 :1 which implies 1 bonus share of Rs 2 each for every 1 fully paid-up equity share held. 

 

Wipro bonus history

The information technology (IT) major, prior to this, had issued bonus shares on March 7, 2019, in a 1:3 ratio. on Jun 14, 2017, the company had issue bonus shares in 1:1 ratio. Similarly, on June 16, 2010, the company issued a bonus in a proportion o 2:3.

Wipro Q2 results 

The board also approved the Q2 results which showed consolidated profit (attributable to owners) rose 6.85 per cent on a quarter-on-quarter (Q-o-Q) basis to Rs 3,208.8 crore from Rs 3,003.2 crore in Q1FY25. 

 

Its revenue also saw a modest growth of 1.5 per cent Q-o-Q, rising to Rs 22,301.6 crore from Rs 21,963.8 crore in the previous quarter.

 

 

Srini Pallia, CEO and managing director said, “Based on strong execution in Q2, we met our expectations for revenue growth, bookings, and margins. 

 

In the IT services segment, revenue reached $2,660.1 million, representing a 1.3 per cent Q-o-Q increase but a 2.0 per cent year-on-year (Y-o-Y) decrease. Non-GAAP constant currency IT services revenue showed a 0.6 per cent Q-o-Q rise and a 2.3 per cent Y-o-Y decline.

Total bookings for the quarter were $3,561 million, with large deal bookings totaling $1,489 million, reflecting a considerable 28.8 per cent Q-o-Q and 16.8 per cent Y-o-Y increase in constant currency.

 

Voluntary attrition stood at 14.5 per cent on a trailing 12-month basis.

 

In the past one year, Wipro shares have gained 39.2 per cent against Sensex's rise of 17 per cent.