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Why Wipro's ₹5 dividend announcement couldn't save its stock today
Wipro's shares dropped 2% to ₹256.60 on Friday, despite the company announcing a ₹5 per share interim dividend and very bullish sentiment for Wipro according to Moneycontrol analysis.
Good news doesn't always mean instant gains
Even with a solid net profit of ₹3,331.5 crore in Q1 FY25, Wipro's revenue dipped slightly compared to last quarter.
For young investors or anyone tracking tech stocks, it's a reminder that good news doesn't always mean instant gains.
Bonus share plan and big contract, still stock dipped
Wipro rolled out a 1:1 bonus share plan (coming December), plus landed a big Smart Grid contract in Saudi Arabia.
Still, concerns about slowing revenue growth made investors cautious—so the stock took a hit anyway.