Mon Oct 14 05:41:09 UTC 2024: ## Wipro Shares Surge on Bonus Share Speculation

**Mumbai, October 14, 2024** – Wipro shares soared by 3% in early trading today, hitting a day high of Rs 545.35, driven by speculation surrounding a potential bonus share issue. The IT giant’s board meeting scheduled for October 16-17 will consider a proposal to issue bonus shares, according to a company filing. This news has sparked optimism among investors, pushing the stock to a 2% gain at Rs 540.15 per share on the BSE.

The potential bonus issue comes amidst a positive outlook for the IT sector, with other companies in the pack also experiencing gains. Wipro has previously announced bonus shares five times since 2004, with the last issue in 2019 at a ratio of 1:3. The company has not yet confirmed the details of the proposed bonus share issue, but the outcome of the board meeting will be communicated to stock exchanges on October 17th.

Investors are eagerly awaiting the official announcement, as a bonus share issue can increase the number of shares outstanding, potentially boosting liquidity and attracting new investors. This could lead to further gains for Wipro shares in the coming days.

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