Wipro To Consider Bonus Issue Ahead Of Q2 Results

Wipro, the tech giant is set for a major announcement this week, as its board of directors is to meet on October 16-17, 2024, to discuss the possibility of issuing bonus shares. This update comes just before the company reveals its Q2FY25 results on October 17, 2024. 

Bonus Shares on the Horizon?

In a regulatory filing, Wipro confirmed that its board will consider a proposal for issuing bonus shares, following all the rules laid out by the Companies Act, 2013, and SEBI’s regulations. This could be a nice little perk for shareholders, as bonus shares are a way of rewarding investors by giving them additional shares at no extra cost. However, the exact details are yet to be revealed.

A Look at Wipro’s Financials

Wipro’s financials from the previous quarter this year showed a mixed bag. The company posted a 4.6% year-on-year jump in net profit, bringing it to Rs.3,003.2 crore. However, revenue took a slight hit, dipping 3.8% to Rs.21,963.8 crore. Despite the revenue dip, Wipro’s CEO and MD, Srini Pallia, has been optimistic, saying the company is confident in delivering better Q2 results while also focusing on growing their bookings. The shares of the company are currently trading at around Rs.537.95 per share, around 2% up from its last closing price.

Betting Big on AI

Apart from financials, Wipro is leaning into its ai360 strategy, which focuses on using artificial intelligence to strengthen its operations and prepare its workforce for a tech-driven future. Pallia has made it clear that AI will play a huge role in shaping Wipro’s direction going ahead, and they’re taking steps to stay ahead in the industry.

Conclusion: In conclusion, it can be said that Wipro’s board meeting will be one to watch. Whether it’s a bonus share issue or positive Q2 results, shareholders have plenty to look forward to as the company navigates both financial growth and its AI setup.

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.