Board Meeting Scheduled on April 27 for Wipro Share Buyback Proposal Discussion

Wipro limited

April 24, 2023: The Board of Directors of Wipro Limited, a leading Indian multinational corporation providing information technology, consulting and business process services, is scheduled to convene on April 27, 2023, to discuss a proposed share buyback program.

The company has not yet disclosed the details of the buyback program, including the number of shares to be repurchased or the price at which they will be bought back.

However, sources close to the matter suggest that the buyback program could be worth several hundred crores of rupees.

The proposed share buyback program comes as part of Wipro’s strategy to boost shareholder value and return surplus cash to its shareholders.

Wipro has a history of share buybacks, with the company having completed a buyback program worth Rs 9,500 crore in 2020.

The move to buy back shares is expected to boost the company’s earnings per share and support its stock price.

The buyback is also expected to help the company to maintain its competitive edge in the highly competitive IT services sector.

Wipro has been performing well in recent years, with the company reporting strong financial results and expanding its global presence.

The company has also made several strategic acquisitions to enhance its capabilities and expand its service offerings.

The share buyback proposal is subject to approval by Wipro’s Board of Directors and shareholders. The company has not yet announced when the buyback program will be launched or the duration of the program.

Investors and analysts will be eagerly awaiting the outcome of the meeting on April 27 to see what decision the Board of Directors of Wipro takes on the proposed share buyback program.

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