After TCS another IT Major Service firm Wipro is planning to offer a buyback plan to it’s shareholders . This share Buyback Plan comes after TCS announces Share Buyback Plan worth Rs 16,000 crore rupees . Wipro will confirm about share buy back on 13 October 2020 . On this day Company will announce it’s Quarter 2 result
In a Regulatory Filing Wipro Said , The Board of Directors will consider about Share Buyback Plan in Company’s Meeting which is scheduled on 13 October 2020 .
After TCS Wipro is the Second Indian IT Firm which is offering share Buyback Plan . On Wednesday TCS Announces Share Buyback Plan Worth Rs 16,000 Crore . The Share Buyback Price of TCS is Rs 3,000 Per Share .
Company’s offer Share Buyback when they have Excess of Cash and they want to reward it’s Shareholders . Share Buyback also show’s trust of Company’s Management on The Growth of company . In the Ongoing Pandemic IT Company’s have got benefit because In this Pandemic Everyone is doing Work From Home . For doing Work From Home Companies need IT Support . These IT companies provided unbreakable IT support to it’s client and also there revenue increases .
Now , IT Companies is sitting on Excess Cash so to reward it’s Shareholders These Companies are offering share buyback Plan .
On Wednesday TCS announced it’s Q2 Numbers which was impressive and better than expected . Wipro will announce it’s Q2 results on October 13 , 2020 .
After the news of Share Buyback news . Share of Wipro crosses it’s 52 – week high i.e. Rs 353.30 .