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
