Shares of IT major Wipro Ltd rose 3% in early deals on Friday after the firm said its board fixed Tuesday, December 3, 2024 as the record date for the purpose of determining the equity shareholders of the company eligible for bonus equity shares (including Stock Dividend on ADS). Wipro stock climbed 3% to Rs 573.45 on BSE in early deals today. Market cap of Wipro stood at Rs 2.97 lakh crore. Total 2.24 lakh shares of the firm changed hands amounting to a turnover of Rs 12.70 crore on BSE.
In terms of technicals, the relative strength index (RSI) of Wipro stands at 51.7, signaling the stock is neither oversold nor overbought on charts. The IT stock is trading higher than the 5 day, 10 day, 20 day, 50 day, 100 day, 150 day and 200 day moving averages.
"The Board of Directors has fixed Tuesday, December 3, 2024 as the Record Date for the purpose of determining the equity shareholders of the Company eligible for bonus equity shares (including Stock Dividend on ADS) of the Company," said Wipro on Thursday.
On October 17, Wipro's board approved a bonus issue of shares in the ratio of 1:1 of Rs 2 each. The bonus shares will be credited within two months from the date of board approval, i.e., December 15, 2024.
The IT firm announced bonus shares last time in 2019, when it had issued one bonus share for every three shares held by shareholders. The Bengaluru-based IT services provider also announced its September quarter results on October 17.
The IT major logged a 21.26 per cent rise year-on-year (YoY), in its September 2024 quarter's consolidated net profit. Profit came at Rs 3,208.8 crore in Q2 against Rs 2,646.3 crore in the year-ago period. The company's revenue from operations fell 0.95 per cent to Rs 22,301.6 crore from Rs 22,515.9 crore in the corresponding period last fiscal.