The 14th 1:1 bonus issue in Wipro’s company history gets ex-dated on 3 December 2024, which is also the record date for investors to be eligible to receive bonus shares.
Wipro shares witnessed an aggressive rise after a long time today as Wipro company shares became ex-dated after bonus issue.
After adjusting for the 1:1 bonus share issue, Wipro shares opened at ₹ 295.35 per share on NSE and soon touched a high of ₹ 296.2 per share.
Market experts believe that the company’s shares can now rise to ₹ 369.95. The chart of the previous high can be seen below.
Wipro reported its gross revenue for the September quarter at ₹22,300 crore, a decline of 1% compared to the year-ago period. Its net income for the quarter stood at ₹3,210 crore, a growth of 21.3% compared to the year-ago period.
The company forecast revenue from the IT Services business segment to be in the range of $2,607 million to $2,660 million, which translates to sequential guidance of -2.0% to 0.0% in constant currency terms.
Wipro has converted the initial 100 shares held in 1971 into 6,82,667 shares during the last 13 years of bonus share issuances. With the latest bonus issue, those 100 shares bought by an investor in 1971, if held till date, will convert into 13,65,333 shares. The Wipro board, while approving the September quarter and half-year financial results on October 17, 2024, approved a proposal to issue bonus equity shares in the ratio of 1:1, i.e., one bonus equity share of ₹2 for every fully paid-up equity share and a bonus issue of 1 ADS for every 1 ADS held on American Depository Shares (ADS) as on the record date. The board later fixed the record date as December 3.
The company forecast revenue from the IT Services business segment to be in the range of $2,607 million to $2,660 million, which translates into sequential guidance of -2.0% to 0.0% in constant currency terms.