Wipro to consider bonus issue of shares; meeting to be conducted on October 17, details here | Stock Market News
Source: Live Mint
Wipro Ltd’s board of directors is to consider a bonus issue of shares in the upcoming board meeting, which is expected to be conducted on October 17, according to the company’s BSE filing on Sunday, October 13.
“The Board of Directors of the Company will be considering a proposal for issue of bonus shares, in accordance with the applicable provisions of the Companies Act, 2013 (including the rules and regulations framed thereunder), the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, at its meeting scheduled to be held over October 16-17, 2024,” said the company in the exchange filing on Sunday.
Wipro Ltd’s shares closed 0.77 per cent higher at ₹528.95 after Friday’s trading session, compared to ₹524.90 at the previous market close.
Wipro Q2 results
The IT firm is also poised to announce its July to September quarter results and consider an issue of bonus shares in its board meeting scheduled on Thursday, October 17.
The company will release its second quarter financial year 2024-25 results after the market operating hours on Thursday, according to the official website of the IT firm.
“Results for the Second Quarter ending September 30, 2024, will be announced on October 17, 2024, Thursday after stock market trading hours in India,” according to the company website.
Wipro also said in the exchange filing that, “the outcome of the Board meeting will be communicated to the stock exchanges soon after conclusion of the Board meeting on October 17, 2024.”
The company has also disclosed that they will host a call after the results announcement on October 17, where the senior management will discuss the financial performance for the July to September quarter, and answer questions. The call is scheduled at 7:00 p.m. (IST), according to the company’s BSE filing.
About Wipro
Wipro is an Indian IT firm that deals with technology services and consulting. The company focuses on building innovative solutions that address clients’ most complex digital transformation needs, and also leverages the holistic portfolio of capabilities in consulting, design, engineering, and operations, according to the statement.
Mint reported earlier about Wipro’s April to June quarter results. The company’s net profits rose 4.64 per cent year-on-year. Revenue from operations dropped 1.1 percent in the first quarter compared to the same period a year ago.
