Wipro Has Fixed December 3, 2024, as a Record Date for Bonus Equity Shares

Wipro Limited stands out as a top global provider of IT, consulting, and business process services, with its main office located in Bangalore, India. Founded in 1945 as a producer of vegetable oil, Wipro has transformed over the years into a significant force in the information technology and software services sector.

Wipro Has Fixed December 2024, 3 as Record Date for Bonus Equity Shares

The bonus announcement from the IT giant is highly awaited in the market. At last, the company has confirmed the record date for its 1:1 bonus issue scheduled for December. In simple terms, Wipro will be giving shareholders 1 additional share for each share they currently own. Leading up to the bonus issue, opinions on Wipro shares are varied; nonetheless, the highest target price has been established at Rs 575.

According to the regulatory filing, Wipro has set Tuesday, December 3, 2024, as the record date to identify the company’s equity shareholders who are eligible for bonus equity shares, which includes stock dividends on ADS.

Wipro Declared 1:1 Bonus

Wipro announced the distribution of bonus equity shares at a ratio of 1:1. This indicates that for every fully paid equity share owned, the company will issue 1 (one) bonus equity share valued at Rs 2/- each as part of the bonus allocation.

Wipro has a notable history of issuing bonuses. The most recent was a 1:3 ratio granted in March 2019, which came after a 1:1 bonus issued in June 2017 and a 2:3 bonus in June 2010. Before these, the company had given out 1:1 bonuses and 2:1 bonuses in August and June of 2005 and 2004, respectively.

Wipro Announced a Collaboration

Earlier this week, Wipro revealed a partnership aimed at assisting enterprises in securing the open-source elements of their software applications. Recently, Wipro’s investment division, Wipro Ventures, made a financial commitment to Lineaje, a software supply chain security firm based in the US. This partnership not only affirms Lineaje’s groundbreaking methodology but also enhances its capabilities and resources to transform software supply chain security further. The combined solutions from Wipro and Lineaje will enable enterprise customers to centralize their management of software supply chain risks and tackle significant vulnerabilities identified through the Lineaje platform.

Wipro Stock Price and Performance

The current trading price of Wipro shares stands at Rs. 566.75, reflecting a 2% increase today, with active trading occurring at Rs. 566.80. The price-to-equity ratio for the stock is 30.50x, and it boasts a return on equity of 15.13%. Over the past week, Wipro’s stock has experienced a decline of 2.6%. Nonetheless, year-to-date, the stock has risen by 17% on the BSE, surpassing the performance of competitors such as TCS.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.