Wipro on Thursday announced that it will consider a buyback of equity shares at a meeting of its board of directors scheduled for April 15–16. The IT major is also expected to announce its fourth-quarter results for FY26 (ending March) on April 16.
“The company has confirmed that the final decision reached during the board sessions will be shared with the public and investors on April 16. Market participants and shareholders are advised to monitor official channels for the final outcome, which will detail whether the proposal has been approved and, if so, the specific terms of the buyback program,” a statement from Wipro said.
A share buyback is a corporate action in which a company repurchases its own shares from existing shareholders. The Bengaluru-based IT firm has a consistent history of buybacks, with the most recent instance in 2023, when it executed a ₹12,000 crore buyback at ₹445 per share. The company repurchased 269.6 million equity shares, representing 4.91% of its equity, with the aim of enhancing earnings per share (EPS) and improving return ratios.
If approved, this would mark Wipro’s sixth buyback in the past decade.
Stabilising a Volatile Stock Price
“These are normally well-thought out proposals so there’s a high chance it will be improved. Also, considering they’re quite routine and its been three years since our last buyback, this is due. Details around the price band, the quantum of the buyback and the outcome will all be announced along with the results on the same day,” a spokesperson for the company shared.
Like other IT majors in the sector, Wipro’s share price has declined—falling 14.26% over the past year and 22.97% year-to-date—amid concerns about disruption from AI tools. The proposed buyback is expected to support investor sentiment and potentially stabilise the stock price.
“We expect Wipro to guide for (-)2 to 0% revenue growth for June 2026 quarter indicating share losses, delayed ramp up of large deals and pricing pressure,” a Kotak Institutional Equities report stated about the company’s earnings outlook.
Financial Outlook
In the third quarter ended December, the company reported a 5.3% year-on-year increase in revenue to ₹23,556 crore, while net profit declined 6.6% year-on-year to ₹3,145 crore. The company also reported operating cash flows of ₹42.6 billion.
Indian IT firms have been actively announcing large buyback programs. In November last year, Infosys approved a buyback worth ₹18,000 crore at ₹1,800 per share—its largest to date. Meanwhile, in 2022, Tata Consultancy Services (TCS) completed a ₹18,000 crore buyback at ₹4,500 per share through the tender route.