Wipro stock falls 8% as ₹15000cr buyback record date announced
Business
Wipro's stock fell nearly 8% to ₹188.15 on Friday, even though the broader market was up.
The drop happened as the company set a record date for its massive ₹150 billion share buyback, its first in three years, offering ₹250 per share, which is a decent 22% premium over its last close.
Wipro faces harassment and religious coercion
While Wipro plans to buy back 600 million shares (about 5.7% of its total), investor mood took a hit after a former employee accused the company of workplace harassment and religious coercion at its Pune office.
Wipro responded by stressing its zero-tolerance policy for misconduct and said it is working with Pune Police on the investigation.
Despite these reassurances, Wipro's stock is still down over 27% so far in 2026.