Wipro shares climb 1.52% on bonus issue announcement, check details

Wipro's shares saw a coagulated emergence connected November 22, up by 1.52% to Rs 565.60, pursuing the company's announcement of a grounds day for its bonus issue. At 12:40 pm, the banal logged a summation of Rs 8.45 connected BSE, highlighting beardown capitalist interest. This comes arsenic Wipro besides posted its Q2 FY25 results, which exceeded expectations.

Bonus contented to thrust banal appeal

The institution has acceptable December 3, 2024, arsenic the grounds day for determining eligibility for its bonus shares, which are being issued successful a 1:1 ratio. Shareholders volition person 1 bonus stock for each afloat paid-up equity stock they hold, with each bonus stock having a nominal worth of Rs 2. This determination has generated excitement among retail investors, contributing to the stock's upward momentum.

Wipro's financials amusement dependable growth

For Q2 FY25, Wipro reported a 6.85% quarter-on-quarter summation successful consolidated nett attributable to owners, which roseate to Rs 3,208.8 crore from Rs 3,003.2 crore successful the erstwhile quarter. The IT services conception showed humble growth, with gross expanding by 1.3% sequentially to scope $2,660.1 million. Despite a flimsy year-on-year diminution of 2%, the company's ample woody bookings jumped 28.8% Q-o-Q, totalling $1,489 million.

Wipro's marketplace performance

With a marketplace capitalization of Rs 2,97,111.34 crore, Wipro's banal has performed powerfully implicit the past year, gaining 39.2%, compared to a 17% emergence successful the Sensex. The stock's 52-week precocious stands astatine Rs 583 per share, portion the debased is Rs 393.2, reflecting its beardown imaginable for growth.

As Wipro continues to present connected cardinal metrics, including gross maturation and beardown bid bookings, its strategical bonus contented adds to the optimism astir its aboriginal prospects.