Shares of Wipro surged over 5 per cent on the Bombay stock Exchange after IT major said that its board would consider a proposal for buyback of equity shares of the Company on July 20, 2017. “A meeting of the Board of Directors of the Company to be held over July 19-20, 2017, to consider a proposal for buyback of equity shares of the company on July 20, 2017,” Wipro said in a filing to BSE. Boosted by the development, shares of company gained as much as 5.54 per cent to hit intra-day high of Rs 273.90 apiece on the Bombay Stock Exchange.
The stocks were currently trading at Rs 268.55 against previous close price of Rs 259.50. In a similar fashion, shares of the company were trading 3.14 per cent higher at Rs 268.00 apiece on the National Stock Exchange. Meanwhile, the broader benchmark BSE Sensex was trading at 32,074.03, up 53.28 points, or 0.17 per cent, at 12:28 hours.