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Wipro hits 52 week high; buyback attractively priced, say analysts

| Friday | 21st July, 2017

Shares of Wipro, country`s third largest software services firm, hit a 52-week high of Rs 291 on Friday, up over 8% after the IT major announced a share buyback of Rs 11,000 crore.

Shares of Wipro, country`s third largest software services firm, hit a 52-week high of Rs 291 on Friday, up over 8% after the IT major announced a share buyback of Rs 11,000 crore. Wipro is the fourth Indian IT services firm to announce a buyback after TCS, Infosys and HCL Technologies. Meanwhile, Wipro has gained over 13% year-to-date, the most among four largest IT services firms. TCS and HCL Tech rose 3% and 7%, respectively, while Infosys declined 4% during the same period. By comparison, the Nifty IT and the Nifty50 indices have gained 0.9% and 21%, respectively during this period.

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