Shares of Wipro Ltd rose more than 1 percent on June 9 after a large block deal took place during the second block deal window of the trading session. This deal involved nearly 2 percent of the company’s total equity and was valued at over ₹5,000 crore.
As per reports, around 20.23 crore shares, which is about 2 percent of Wipro’s total equity, were traded for ₹5,057.5 crore on the stock exchanges. The deal was executed at a price of ₹250 per share, slightly higher than the previous day’s closing price of ₹248.59 apiece — offering a small premium of 0.05 percent.
The trade happened between 2:05 pm and 2:20 pm, during the second block deal window. As of now, the names of the buyers and sellers involved in the transaction have not been made public.
At 2:50 pm, shares of Wipro were trading at ₹251.38 on the NSE, showing a 1.1 percent increase in the stock price after the deal.
Wipro, which is one of India’s top IT companies, recently won a multi-year deal with Entrust, a global leader in digital identity and data security solutions. Wipro will help Entrust scale up operations and support its growth using advanced technology and strategic services.
In its Q1FY25 results, Wipro reported a 6.4% net profit growth to ₹3,569.6 crore and 1% growth in gross revenue to ₹22,504.2 crore.
The Bengaluru-based IT company also announced that the ₹6 per share interim dividend will be treated as final dividend for FY25.
For Q1FY26, Wipro guided that its IT services revenue will be in the range of $2,505 million to $2,557 million. This is a 1.5% to 3.5% decline on a quarter-on-quarter basis in constant currency terms.
Wipro’s total revenue was $2.60 billion, a 1.2% decline from previous quarter and 2.3% from last year. In constant currency terms, IT services revenue was 0.8% down sequentially. The Q1FY26 revenue miss was also below street estimates.
Do you have a news tip for Lakshmishree reporters? Please email us at media@lakshmishree.com
Source: Moneycontrol
News Desk
