Wipro Limited, one of India’s leading IT service providers, will be in the spotlight this week as it nears the record date for issuing 1:1 bonus shares. The stock closed Friday’s trading session 1% higher at ₹577.95, giving the company a market valuation of ₹3,02,389 crore. December 3, 2024, is the record date for determining shareholders eligible for the bonus shares.
Wipro’s Bonus Share Details
The company’s Board of Directors has recommended the issuance of one bonus share for each fully paid-up equity share held. Each bonus will have a face value of ₹ 2. Events are subject to approval by shareholders through a postal ballot.
In a filing to the stock exchange, Wipro said, “The Board of Directors has fixed Tuesday, December 3, 2024, as the Record Date for determining the equity shareholders entitled for bonus equity shares.”
Recent Developments at Wipro
- New CEO for Europe SMU: Wipro appointed Omkar Nisal as the CEO of its Europe Strategic Market Unit (SMU), effective November 25, 2024. Omkar will also join the company’s Executive Board.
- Partnership with Marelli: Wipro announced on November 26 that the company extended its long-standing collaboration with Marelli, a leading global independent supplier in the automotive sector, to build a future-proof digital foundation. The expanded engagement involves the migration of the Milan Data Centre and several other local server rooms to Wipro FullStride Cloud, thereby ensuring a smooth and resilient operational setup for Marelli.
Wipro Share Price Outlook
The announcement of bonus shares coupled with recent leadership changes and strategic partnerships positions Wipro as one of the stocks to watch closely. Further, investors will keenly monitor how these developments are set to influence its share price performance in upcoming sessions.
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Source: Goodreturns
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