Should You Consider Wipro’s BuyBack Offer?

Posted By: Staff
Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    Joining the pack of other IT majors, Wipro too has announced a buyback offer this year again after the yester year's buyback of Rs. 2500 crore. This time the buyback is valued at Rs. 11,000 crore and the company shall be distributing the extra cash with it to its shareholders.

    The price of the buyback has been decided at Rs. 320 for a share for upto Rs. 11,000 crores. The buyback shall involve a buyback of as many as 34 crore shares that amount to 7% of the total outstanding shares of the company.

    Additional information as per the rules and regulations of buyback shall be announced by the company in due time.

    Should You Consider Wipro’s BuyBack Offer?

    What you should be doing? Should you be tending your Wipro shares back to the company in this buyback offer?

    At a today's price of Rs 287.15 on the BSE, the offer throws open a good opportunity for investors to make further good gains. The buyback offer news by the company also triggered the company share to register a fresh 52-week high of Rs. 290.9 today.

    The company reported weak numbers for the quarter ended June well below expectations at Rs. 2,076.5 crore, lower by 8.2%.

    Analysts say on the buyback offer

    Way2wealth gives a thumbs up to the buyback offer with a premium of 18.5% for investors..The muted guidance figures as well as slow down in the IT sector due to protectionist measures and visa changes, investors shall be well-off tendering their shares back to the company.

    Also, keeping in mind the lower growth outlook for IT companies and protectionist measures by the US, investors are better off tendering the shares considering the muted guidance.

    Goodreturns.in

    Read more about: buyback wipro shares
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more