Wipro Shares In Focus As Stock Trades Ex-Bonus Today.

In October, Wipro’s board of directors approved a 1:1 bonus share issue. Each shareholder having rights will receive an extra equity share equivalent to its face value of Rs 2, for each completely paid-up share they hold. This will be Wipro’s 13th bonus since 1971 and the third consecutive one, with the latest being a 1:3 bonus approved on March 6, 2019. Bonus shares will be credited to the accounts of eligible shareholders on December 4, while trading will start the following day.

One of the largest information technology companies in India, Wipro has nearly 22.4 lakh shareholders. For these shareholders, the bonus issue is good news that would more than double their holdings without any additional investment.

As part of determining equity shareholders of the company eligible to receive bonus equity shares (including Stock Dividend on ADS) of the company, the Board of Directors has fixed Tuesday , 3 December 2024 as Record Date for the said purpose, the company Wipro in its November 21st filing revealed. 

Wipro’s shares have been performing greatly for the last year with more than 39% returns, outperforming the benchmark indices handsomely. The company’s strong market and positioning and shareholder- centric policies really get the bonus issue blended with the excellent quarterly financials wherein consolidated profit has increased by 6.85% and revenue increases steadily.

In total, the bonus share issue and great stock performance confirm that Wipro remains a safe haven investment for those seeking an investment in the technology sector. Investors and market analysts would likely interpret this move as positive reiteration of the growth trajectory for the company.