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HomeMarket NewsWipro Q4 Results: Q1 revenue growth pegged at -2% to 0%; Board approves ₹15,000 crore buyback
The Wipro buyback price has been fixed at ₹250 per share, which is a premium of 19% to Thursday's close of ₹210 per share. The buyback of shares will be done through the tender offer process, which means that the shares will be repurchased at a fixed price.
Bengaluru-based IT services provider Wipro Ltd. expects to grow between -2% to 0% in constant currency terms for the first quarter of financial year 2027 on a sequential basis.
The figure is in-line with analyst projections. Brokerages like CLSA, JPMorgan, Morgan Stanley, UBS had projected the figure to be a negative 2% to 0%, while Nomura and Citi saw the growth guidance figure between -1% to +1% in constant currency terms.
Wipro projects the IT services business segment to be in the range of $2,597 million to $2,651 million, which implies a sequential guidance of -2% to 0% in constant currency terms.
Additionally, the board of Wipro has also approved a buyback of equity shares. The total buyback size is worth ₹15,000 crore, which is lower than the previous instance. This is the first time that Wipro announced a share buyback, since the ₹16,000 crore buyback in 2023.
The buyback price has been fixed at ₹250 per share, which is a premium of 19% to Thursday's close of ₹210 per share. The buyback of shares will be done through the tender offer process, which means that the shares will be repurchased at a fixed price.
Shares of Wipro ended little changed on Thursday ahead of the earnings announcement at ₹210.15. The stock has risen 8% in the last one month.This is breaking news. The story will be updated with more details.
