Tue Dec 03 09:58:03 UTC 2024: **Wipro Stock Dips Slightly Despite 1:1 Bonus Issue Announcement**
**MUMBAI, December 3, 2024** – Wipro shares experienced a minor decline today, despite the company announcing a 1:1 bonus issue alongside its September quarter earnings. The bonus issue, which will grant eligible shareholders one additional share for every share held as of the record date, is expected to benefit approximately 2.2 million small shareholders.
Throughout the trading day, Wipro’s share price fluctuated, closing slightly down. While the price showed minor decreases at various points during the day, the overall trading volume indicated significant activity, with over 10 lakh shares bought compared to nearly 9.5 lakh shares sold. At the close of trading on the NSE, Wipro shares were trading at ₹291.05, down ₹1.20 (0.41%).
Despite the slight dip, analysts remain positive. Vikas Jain, Head of Research at Reliance Securities, highlighted the bonus issue as a key market development, suggesting it could generate positive investor sentiment. This optimism is further supported by the performance of Wipro’s ADR/GDR, which saw a 1% gain, mirroring positive trends in other IT stocks across Asian markets and globally.
Wipro’s history of bonus issues, totaling 13 since its IPO, further underscores its commitment to shareholder value. This latest bonus issue adds to a long track record stretching back to 1971. The overall market sentiment, coupled with strong technical indicators, suggests continued buying interest in IT stocks, including Wipro, in the near future.
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