NEW DELHI: Shares of Wipro shot up over 4 per cent in Monday’s trade as the IT firm said it said it would consider a share buyback at its board meeting on Thursday. If approved this would be the company’s second such offering in as many years.Following the announcement, the stock climbed 4.12 per cent to hit a high of Rs 270.20 on BSE In a filing to BSE the IT firm said, “With reference to the earlier letter dated July 3 regarding a meeting of the board of directors, Wipro has now informed BSE that the board will consider a proposal for buyback of equity shares on July 20. ”The outcome of the board meeting will be disseminated to the stock exchanges after conclusion of the Board meeting on July 20, 2017.Wipro had said it would look at a buyback in July when it announced its fourth-quarter results. Infosys Tata Consultancy Services and Cognizant have all announced share buybacks.

Source: Economic Times July 17, 2017 04:18 UTC