Wipro Shareholders Clear ₹15,000 Crore Buyback and New Independent Directors
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The latest update is out from Wipro ( (WIT) ).
On May 21, 2026, Wipro reported the results of a postal ballot conducted entirely through remote e-voting between April 22 and May 21, 2026, on three key resolutions, including board appointments and a large capital return plan. Shareholders approved the reappointment of Tulsi Naidu as an independent director for a second five-year term from July 1, 2026, and the appointment of Laura Marie Miller as an independent director for a five-year term starting April 1, 2026, reinforcing the company’s independent oversight and global board diversity.
Investors also cleared a sizeable share buyback of up to 600 crore fully paid equity shares, representing 5.72% of Wipro’s paid-up equity capital, at ₹250 per share for a total outlay not exceeding ₹15,000 crore. The buyback, amounting to up to roughly a quarter of the company’s standalone capital and free reserves and about one-fifth on a consolidated basis, signals a significant capital allocation move that may bolster earnings per share and shareholder returns while reflecting management’s confidence in the company’s financial position.
The most recent analyst rating on (WIT) stock is a Sell with a $2.02 price target. To see the full list of analyst forecasts on Wipro stock, see the WIT Stock Forecast page.
Spark’s Take on WIT Stock
According to Spark, TipRanks’ AI Analyst, WIT is a Neutral.
The score is driven primarily by solid financial strength (low leverage and strong free cash flow). It is tempered by cautious near-term revenue guidance and mixed earnings-call signals, plus weak technical trend positioning versus longer-term moving averages; valuation is supported by a high dividend yield but not clearly cheap on P/E.
To see Spark’s full report on WIT stock, click here.
More about Wipro
Wipro Limited is a global information technology, consulting and business process services company headquartered in Bengaluru, India, with its equity shares listed in India and American depositary shares traded on the New York Stock Exchange. The company focuses on delivering IT services and digital transformation solutions to clients worldwide across sectors including financial services, manufacturing, communications and healthcare.
Average Trading Volume: 13,480,406
Technical Sentiment Signal: Sell
Current Market Cap: $21.39B
See more data about WIT stock on TipRanks’ Stock Analysis page.
