Mumbai: Wipro Ltd shares rose 4% to Rs270 on Thursday, making it the biggest gainer among Nifty 50 stocks. Of course, one reason could be that since Wipro shares had corrected about 13% from their highs in mid-June, this is a sort of a relief rally. After the government introduced a new buyback tax in this year’s budget, there were concerns that the cash return policy of some companies may get affected. If Wipro continues to disappoint on growth, investors will have to face the prospect of capital losses on their investment. Investors can cheer Wipro’s generous cash return policy if they want, but they can’t afford to ignore the company’s underlying financial performance

Source: Mint July 18, 2019 10:21 UTC