Wipro Board to consider buyback plan on October 13

By: |
October 7, 2020 7:48 PM

"...the Board of Directors will be considering a proposal of buyback of equity shares of the company at the...meeting scheduled to be held on October 13, 2020," Wipro said in a regulatory filing. However, no other details were provided. 

wipro buyback, wipro buyback 2020Wipro became the second IT company to consider a buyback proposal this week after the TCS board cleared one. In April 2019, Wipro announced a share buyback of Rs 10,500 crore

 

IT services major Wipro on Wednesday said its Board will consider a buyback plan on October 13. The announcement comes on a day when larger rival Tata Consultancy Services Board has cleared an up to Rs 16,000 crore buyback plan.

“…the Board of Directors will be considering a proposal of buyback of equity shares of the company at the…meeting scheduled to be held on October 13, 2020,” Wipro said in a regulatory filing. However, no other details were provided.

“The outcome of the Board meeting will be communicated to the stock exchanges soon after conclusion of the Board meeting on October 13, 2020,” it added. Wipro is also slated to announce its results for the September quarter that day.

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