Wipro slips over 2% after Abidali Neemuchwala steps down as MD and CEO

Neemuchwala is leaving due to "family commitments" and will continue to hold office until a successor is appointed, said Wipro in a regulatory filing.

Wipro slipped over 2 per cent to trade near its 52-week low on Friday after the company announced that Chief Executive Officer (CEO) and Managing Director (MD) Abidali Z Neemuchwala has decided to step down due to family commitments. 

At 11:17 am, shares of the company were trading 1 per cent lower at Rs 238.25 apiece on the BSE. The stock hit a low of Rs 235.30 during the session. It had hit a 52-week low of Rs 232.35 on October 1, 2019. 

The S&P BSE Sensex, on the other hand, was trading 79 points or 0.19 per cent higher