Shares of Wipro rose about 3% after the company announced its board will consider a share buyback on April 16, alongside quarterly results. This would be its first buyback in three years, drawing strong investor interest.
The stock has declined over 20% this year, so the potential buyback is seen as a step to support prices and improve sentiment. While details such as size and price are yet to be disclosed, market expectations are building around a sizable offer. Analysts say the move could boost confidence amid ongoing weakness in the IT sector.