Wipro Share Price Target After 1:1 Bonus Issue: How To Be Eligible? Buy, Sell Or Hold?

Wipro Ltd shares recorded a decline of 2.16% in trade on Monday on the Bombay Stock Exchange (BSE). Current market price of Wipro Ltd shares on BSE is Rs 542.50 per share. The firm's market capitalisation stood at Rs 2,83,736.98 crore. The scrip declined over 3% in last 1-week and rallied over 41% in last 1-year. The company on October 17, 2024 declared a growth of 21% in its net profit to Rs 3209 crore for the September 2024 quarter as compared to Rs 2646 crore announced in the corresponding quarter of last year. The company also recommended bonus share in the ratio of 1:1. Check details below:

Wipro Q2:

The company declared its consolidated revenue declined 1% YoY to Rs 22,302 crore for Q2 FY25 as against Rs 22,543 crore in the corresponding quarter of last year. Srini Pallia, CEO and Managing Director, said: "Based on strong execution in Q2, we met our expectations for revenue growth, bookings, and margins. We continued to expand our top accounts, large deal bookings surpassed $1 Bn once again, and Capco maintained its momentum for another consecutive quarter."

Wipro announced its entire bookings during the quarter stood at $3.56 billion. Meanwhile, the company's large deal bookings stood at $1.49 billion, up 28.8% on-quarter and 16.8 on-year in constant currency.

Wipro Share Performance:

The 52-week high price of the large cap stock on BSE is Rs 580.00 per share and 52-week low price is Rs 376.90 per share. Wipro shares surged 8% in last 3-months, gained 18% in last 6-months, and offered return of 38% in last 2-years. The stock rallied 111% in last 5-years.

Should You Buy, Sell Or Hold Wipro Shares?

According to A R Ramachandran, Independent SEBI Research Analyst, "Wipro is bearish on the Daily charts with strong resistance at 553. A Daily close below support of 540 could lead to a target of 513 in the near term."

Meanwhile, Geojit too initiated coverage on Wipro shares and recommended hold call with target price of Rs 582 per share. According to the analyst, "Good growth of large deal wins will support the company's overall long-term performance. In fact, a strong deal pipeline is also expected to buoy recovery in Europe and APMEA markets. Cost-cutting measures will offset ongoing momentum towards vendor consolidation, thereby providing further support. Hence, we reiterate our HOLD rating on the stock, based on 23x price/earnings ratio on FY26E adj. earnings per share, with a revised target price of Rs.582."

How To Be Eligible For Wipro Bonus Shares?

Record date holds significance in announcing eligibility of shareholders for bonus share. Shareholders whose name appear in company's shareholders record as on the record date will become eligible to receive bonus share. Record date is the specific day on which a company confirms the list of shareholders eligible for its dividend distribution and bonus shares. Wipro has yet to declare the record date for bonus share.

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It is a leading technology services and consulting company focused on building innovative solutions that address clients' most complex digital transformation needs, according to its official website.