Wipro Share Price

Wipro's Share Price Skyrockets! Bonus Shares on the Horizon!

Wipro’s stock sees a sweet 3% rise as bonus shares are on the table—will you cash in?

Wipro, the IT giant, is stirring up excitement in the stock market as its share price jumped by 3.1% on October 14, reaching an intraday peak of Rs 545.35. Investors are buzzing with anticipation thanks to an important announcement that Wipro's board will meet on October 16 to consider the issuance of bonus shares. This potential move could prove beneficial not only for current shareholders but also for boosting overall market confidence in the company.

The trend of issuing bonus shares is a popular one among companies, designed to reward shareholders and make the stock more affordable for new investors. Wipro, which last offered bonus shares in 2019 (one bonus share for every three held), is making waves again, with this being the first bonus issue since January 2019. As stock prices rise, so does the speculation; investors are eager to see what will come out of the board meeting and whether a bonus issue will indeed be approved.

In anticipation of the upcoming board meeting, Wipro's share prices have been fluctuating but ultimately have shown significant gains. Currently trading at ₹543.20, Wipro is also gearing up to release its Q2 results on October 17, 2024, making this a critical moment for the company. With eyes on both the bonus issue and financial results, market watchers are bracing themselves for a potentially thrilling next few days.

One interesting tidbit: if approved, this would mark Wipro's fourth-ever bonus issue, following similar events in 2010, 2017, and 2019. As the board deliberates, the fate of this bonus issue could make history and signal a refreshing change in investor sentiment in the IT sector. Did you know that companies usually issue bonus shares to strengthen their shareholder loyalty and widen their ownership base? Wipro's forthcoming meetings have investors on tenterhooks, and who knows, the bonus issue might turn out to be just the cherry on top of a fantastic financial season!