Wipro Completes Cancellation of 600 Million Shares After June Buyback
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An announcement from Wipro ( (WIT) ) is now available.
On June 30, 2026, Wipro Limited reported to Indian stock exchanges and the NYSE that it had completed the extinguishment of 600 million equity shares repurchased under a recently concluded buyback offer. The tendering period for the buyback ran from June 11 to June 17, 2026, and the cancelled shares were primarily extinguished on June 25, 2026 in both dematerialized and physical form.
Following the transaction, Wipro’s issued equity share capital fell from about 1.05 billion to 990.35 million shares, marginally increasing the promoter group’s stake from 72.52% to 72.59% and consolidating holdings of foreign investors and institutions. The move tightens Wipro’s share base, potentially enhancing earnings per share and signaling ongoing capital-return discipline to shareholders amid intense competition in the global IT services market.
The most recent analyst rating on (WIT) stock is a Sell
with a $1.70 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 quality (low leverage, healthy profitability, and strong free cash flow) and supportive valuation (moderate P/E with a high dividend yield). Offsetting these positives are weak technicals (price below key moving averages with soft momentum) and a mixed earnings call outlook, highlighted by cautious near-term revenue guidance and YoY bookings pressure despite notable deal wins.
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. It provides IT services, digital transformation, and outsourcing solutions to clients worldwide, and its shares are listed in India on the BSE and NSE, as well as on the New York Stock Exchange.
The company operates across industries including financial services, manufacturing, retail, and healthcare, with a strong focus on leveraging technology-led innovation. Wipro’s equity is widely held by promoters, foreign investors, financial institutions, and public shareholders, reflecting its role as a major Indian IT services exporter and a significant component of domestic and international indices.
Average Trading Volume: 12,586,073
Technical Sentiment Signal: Sell
Current Market Cap: $18.75B
See more data about WIT stock on TipRanks’ Stock Analysis page.
