Tue Dec 03 11:12:55 UTC 2024: ## Wipro Share Price Halves After 1:1 Bonus Issue, But Investor Value Remains Unchanged
**Mumbai, December 3, 2024** – Wipro’s share price dropped by half today, trading at approximately ₹291.90, following the company’s 1:1 bonus share issue which went into effect. This price decrease is a normal consequence of the bonus and should not alarm investors.
The IT giant announced a bonus share distribution earlier, meaning shareholders received one additional share for every share they held. The record date was December 3rd. While the price halved from yesterday’s closing price of ₹584.55 on the NSE, the overall value of an investor’s holdings remains the same. A shareholder who previously owned one share worth ₹584 now possesses two shares, each worth approximately ₹292.
This is the first bonus share issuance from Wipro since 2019. The company’s shares have seen significant growth of approximately 22.56% this year, outperforming the Sensex’s 11.82% return. Wipro also reported strong September quarter results, with a 21% year-on-year increase in net profit to ₹2,646 crore, despite a slight 1% dip in consolidated revenue to ₹22,302 crore.
First Piper 