Wipro announces 15,000cr buyback as shares fall despite revenue growth
Business
Wipro just announced a massive ₹15,000 crore share buyback at ₹250 per share, but the market wasn't impressed.
Shares dropped nearly 3% to ₹204.3 on Friday.
The company's latest results showed net profit dipping 2% to ₹3,502 crore, even as revenue grew 8% year over year to ₹24,236 crore.
Wipro outlook weak, Jio Platforms IPO
Analysts at Morgan Stanley aren't too upbeat about Wipro's future, pointing out "persistent revenue pressure" and "weak Q4."
Meanwhile, Jio Platforms is gearing up for a major IPO by May 2026 (delayed due to recent global tensions) with plans to raise $4 billion and let big names like Meta and Google trim their stakes.