Wipro Share Price Continues Nine-Session Winning Streak, What Drives Indian IT Firm's Surge
Wipro Share Price Extends Rally for Ninth Consecutive Session
Wipro's share price continued its upward trajectory on Tuesday, marking the ninth consecutive session of gains. The IT stock has seen a significant surge of over 11% in these nine sessions, driven by investor interest in the company's ₹15,000 crore share buyback programme.
The share buyback proposal was approved by Wipro's board of directors on April 16, with the aim of repurchasing up to 60 crore equity shares, representing 5.72% of the company's equity. The buyback price has been set at ₹250 per share, a premium of nearly 21% over Monday's closing price. The record date for determining the eligibility of shareholders is June 5.
As part of the share buyback programme, all shareholders who hold Wipro shares as on the record date will be eligible for the buyback offer. This move comes after Wipro's last share buyback in June 2023, which was worth ₹12,000 crore. The IT major had announced that the members of the promoter and promoter group also intend to participate in the proposed buyback programme.
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Wipro Q4 Results FY26
Last month, Wipro announced its Q4 results, which showed a net profit of ₹3,502 crore, a growth of 12.27% from ₹3,119 crore in the December quarter. The IT major's revenue in Q4FY26 grew 3% QoQ to ₹24,236 crore.
However, Wipro expects a weak start to FY27, guiding for April–June revenue of $2.6–2.65 billion, implying a sequential decline of up to 2% or flat growth. The company attributed this outlook to delays in ramping up a large client engagement and slower growth from an existing banking client.
| Company | Q4FY26 Revenue Growth (QoQ) |
|---|---|
| Wipro | 3% |
| Industry Average | - |
| IT Index | - |
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Technical Outlook
Wipro's share price is forming a 52-day double bottom pattern on the daily charts, with the neckline placed near the crucial ₹220 zone. However, the broader structure remains weak, with limited relative strength visible both in the stock and across the IT index.
| Stock Performance | 1 Month | YTD | 1 Year | 2 Years | 3 Years | 5 Years |
|---|---|---|---|---|---|---|
| Wipro | 4% | -23% | -17% | -11% | 3% | -21% |
At 12:15 PM, Wipro's share price was trading 0.10% higher at ₹207.00 apiece on the BSE.
Investor Takeaway
Investors should consider the potential benefits of Wipro's share buyback programme.
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