Wipro shares turn ex-date after bonus issue; Check how much wealth IT giant created for its investors

Tue Dec 03 06:30:11 UTC 2024: **Wipro Shares Dip After Record 1:1 Bonus Issue**

**MUMBAI, INDIA (December 3, 2024)** – Wipro shares experienced a downturn on Tuesday, the ex-date for its 1:1 bonus share issue, the 14th in the company’s history. Following the adjustment for the bonus shares, the stock opened at ₹295.35 on the NSE, briefly reaching a high of ₹296.2 before falling to a low of ₹290.6. By mid-morning, it traded near its day’s low at ₹290.95.

This bonus issue, approved alongside the company’s September quarter financial results (a 1% drop in gross revenue to ₹22,300 crore, but a 21.3% increase in net income to ₹3,210 crore), significantly increases the number of shares held by long-term investors. An initial investment of 100 shares in 1971 would now be worth 1,365,333 shares after this latest bonus.

Wipro’s IT Services segment projected revenue of $2,607 million to $2,660 million for the next quarter, indicating a possible sequential decline of -2.0% to 0.0% in constant currency terms. The record date for the bonus share eligibility was December 3rd. The company also issued a 1:1 bonus on its American Depositary Shares (ADS).