Wipro shares turn ex-date after bonus issue; Check how much wealth IT giant created for its investors

After adjustments for the 1:1 bonus share issue, the stock opened at ₹295.35 per share and soon touched a high of ₹296.2 per share on the NSE.

However, Wipro shares lost momentum and fell to a low of ₹290.6 apiece in late morning deals. The stock was trading near its day’s low at ₹290.95 per share at 10.20 am on NSE.

The 1:1 bonus issue, the 14th in the company’s history, turned ex-date on Tuesday, which is also the record date for investors' eligibility to receive bonus shares.

In 13 earlier bonus share issues over the years, Wipro has transformed an initial 100 shares held in 1971 into 6,82,667 shares. With the latest bonus issue, those 100 shares bought by an investor in 1971, if held to date, would turn into 13,65,333 shares.

Wipro board, while approving the financial results for the September quarter and half year on October 17, 2024, cleared a proposal for the issue of bonus equity shares in the proportion of 1:1, i.e., one bonus equity share of ₹2 each for every one fully paid-up equity share held and a bonus issue on American Depositary Share (ADS) of 1 ADS for every 1 ADS held, as on the record date. The board later fixed the record date as December 3.

Wipro reported a 1% fall in its gross revenue to ₹22,300 crore for the September quarter compared to the year-ago period. Its net income for the quarter was at ₹3,210 crore, an increase of 21.3% compared to the year-ago period.

The company projected revenue from the IT Services business segment to be in the range of $2,607 million to $2,660 million, translating into sequential guidance of -2.0% to 0.0% in constant currency terms.