Mon Oct 14 06:43:04 UTC 2024: ## Wipro Stock Soars on Bonus Share Speculation and Upcoming Earnings Report
**MUMBAI, INDIA -** Shares of Indian IT giant Wipro surged by as much as 3% on Friday, October 14th, as investors eagerly awaited the company’s upcoming board meeting on October 17th, where a potential bonus share issuance is expected to be discussed.
The company has previously issued bonus shares in 2010, 2017, and 2019, and this would mark its fourth such action. The last bonus issue in March 2019 saw Wipro issuing three shares for every one share held. Investors are now focused on the ratio of the potential new bonus shares.
The meeting coincides with the release of Wipro’s Q2 earnings on the same day. Analysts anticipate signs of recovery for the IT sector, driven by easing interest rates and an expected rebound in discretionary demand. However, Nuvama Institutional Equities predicts a decline in Wipro’s margins due to the recent impact of wage increases.
Key focus areas for analysts include the company’s growth guidance for fiscal year 2025, particularly whether a rapid recovery is anticipated. Nuvama forecasts a sequential growth guidance of -1% to 1% in constant currency for Q3FY25, and will also look for updates on Wipro’s consulting business and deal execution performance.
Trading volume for Wipro shares significantly increased on Friday, with 63 lakh shares changing hands, exceeding the one-week daily average of 59 lakh shares. This heightened activity is likely driven by anticipation surrounding the upcoming earnings report and the potential bonus share issuance.
**Disclaimer:** This article is for informational purposes only and should not be construed as investment advice. Consult with a qualified financial advisor before making any investment decisions.
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