Wipro shares in Monday’s session (October 14) in early trade rose as much as 3 percent to a high of Rs 545.35. What happened to the stock was confirmed after the review of the company’s board meeting. Also, tightening in the IT portfolio is also pushing the portfolio’s stocks higher.
At last count, Wipro shares traded up 2 percent at Rs 540.15 per share on the BSE.
The 52-week and 52-week high prices are Rs 375 and Rs 580 each, respectively.
In filing a board report on Sunday, the IT services chief said, “The Board of Directors of the Company will consider the proposal for the issue of bonus shares, in accordance with the applicable provisions of the Companies Act, 2013 (including the rules and regulations incorporated thereunder), the Securities and Exchange Board of India (Issue of Capital) Regulations and Disclosure Requirements), 2018, at its meeting scheduled to be held on October 16-17, 2024. This notice is in accordance with Regulation 29 (1)( f) of SEBI (Listing Obligations and Disclosure Requirements), 2015. The outcome of the Board meeting will be notified in the stock markets soon after the conclusion of the Board meeting on October 17, 2024.”
As per the company filing, the Wipro board meeting is scheduled to be held on October 16-17.
History of Wipro bonus shares
According to Trendlyne data, the company since 2004 has announced bonus shares 5 times. The last bonus shares of the company were in the ratio of 1:3 and similarly the stock is trading at ex bonus on 6th March 2019.
