Wipro Shares Surge 3% Amid Share Buyback Consideration After Three-Year Gap Shares of Wipro, one of India’s leading IT firms, rose as much as 3% to their day’s high of Rs 209 on the BSE on Friday after the company announced it would consider a share buyback proposal alongside its fourth-quarter results, scheduled for April 16. This development follows a sharp decline in the stock, which has fallen more than 20% so far this year. If approved, the buyback would mark Wipro’s first such initiative in three years, with the last exercise occurring in 2023, when the company repurchased shares worth approximately Rs 12,000 crore. Details regarding the buyback size, pricing, and execution route remain undisclosed. The move signals a potential capital allocation strategy amid a challenging environment for IT stocks, which have faced volatility in recent months. The sector, including Wipro, has been under pressure due to an AI-driven downturn that has eroded billions in market capitalization. Despite this, the company emphasized a cautious but stable near-term outlook. For the March 2026 quarter, Wipro guided IT services revenue in the range of $2.64 billion to $2.69 billion, indicating flat to 2% sequential growth in constant currency terms. Wipro is also reshaping its strategy to align with the growing importance of artificial intelligence. CEO Srini Pallia highlighted that AI is becoming a key differentiator, noting increased adoption of AI-led platforms, scaling of delivery through internal frameworks, and expansion of the company’s global innovation network. However, the company warned of margin pressure in the fourth quarter, citing factors such as the Harman DTS acquisition, growth investments, deal mix, and potential wage hikes.#bse #wipro #elara_capital #srini_pallia #harman_dts
MRPL, Chennai Petroleum Shares Surge Over 16% Amid Crude Price Trends Shares of Mangalore Refinery and Petrochemicals Ltd (MRPL) and Chennai Petroleum Corporation Ltd rose sharply in Monday’s trading session, with MRPL’s stock climbing 16.18% to close at Rs 206.80 and Chennai Petroleum gaining 7.70% to Rs 988.60. The surge was attributed to rising crude oil prices, which are expected to benefit standalone refiners like these companies. Elara Capital, in a recent report, highlighted that refiners operating independently would see significant gains as crude prices increase. The brokerage noted that the Gross Refining Margin (GRM) for the industry could rise by approximately $5 per barrel for every $10 per barrel increase in crude oil prices. This is because such companies do not bear the burden of retail fuel losses, giving them a competitive edge. The report also pointed out that MRPL and Chennai Petroleum could experience substantial growth in their EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) but warned of potential policy risks. Elara stated that while near-term earnings could be strong, sustained high GRMs might draw regulatory attention. If refining margins remain elevated for an extended period, the government could impose windfall duties or other interventions to curb excessive profits. This would introduce uncertainty, as policy actions could offset the benefits of higher margins. Additionally, the brokerage emphasized that oil marketing companies (OMCs) are disproportionately affected by high crude prices. Higher GRMs can partially offset losses from retail margins and rising LPG subsidies, but the impact varies among OMCs.#brent_crude #strait_of_hormuz #mrpl #chennai_petroleum #elara_capital
