Tue Dec 03 08:18:32 UTC 2024: ## Wipro to Issue Bonus Shares in 1:1 Ratio; Stock Turns Ex-Date Tuesday

**MUMBAI, INDIA –** IT giant Wipro will issue bonus shares to eligible shareholders in a 1:1 ratio, with Tuesday marking the ex-date for the bonus issue. Today is the record date. This is Wipro’s ninth bonus issue since 1992 and its first since 2019. Previous bonus issues were announced in 2019 (1:3), 2017 (1:1), 2010 (2:3), 2005 (1:1), 2004 (2:1), and 1997, 1995, and 1992 (all 1:1).

While Wipro’s Q3FY25 revenue growth guidance remains muted (-2% to 1% in constant currency), analysts anticipate a gradual recovery in the second half of FY25 due to recently signed deals. Nuvama Institutional Equities has upgraded its rating on Wipro to “Buy” from “Hold,” raising its target price to ₹700 from ₹520, citing a sharper growth recovery and the company’s attractive risk-reward profile due to its portfolio, new CEO Srini Pallia, and inexpensive valuations. Despite current challenges, including client-specific issues, Wipro’s portfolio’s higher exposure to discretionary spending positions it favorably for a macroeconomic recovery.

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