Why Wipro Share Price is Rising

The Indian IT sector has experienced tremendous growth in recent years, driven by global digital transformation and increased demand for technology services.

With businesses shifting to cloud computing, artificial intelligence (AI), and automation, IT companies have become essential partners in enabling this shift. And India remains a global outsourcing hub.

Wipro, one of the largest and most established Indian IT companies, is leading the way. Founded in 1945, it offers a wide range of IT services, consulting, and business solutions to clients worldwide.

Wipro operates in areas such as cloud services, cybersecurity, data analytics, and software development. With a presence across various industries, including banking, healthcare, and retail, Wipro plays a key role in delivering tech-based solutions for businesses across the globe.

Wipro shares are currently in focus following its latest announcement, drawing market attention.

Let's dive into the details of the announcement to understand why Wipro share price is rising.

Upcoming Bonus Issue

Wipro shares rallied on Monday following the company's announcement on Sunday that its board will consider issuing bonus shares. The announcement will coincide with the release of its financial results for the quarter ending September 2024.

The board meeting is scheduled for 16-17 October.

The proposal to issue bonus shares has attracted investor attention.

Companies issue bonus shares to increase stock liquidity and lower the share price, making it more accessible to retail investors. Bonus shares are fully paid additional shares given to existing shareholders at no extra cost, based on the number of shares they hold.

Investors holding shares before the record date set by the company are eligible to receive these bonus shares. Once issued, these shares will have the same rights as the existing ones, including eligibility for dividends.

Wipro last announced a bonus issue in March 2019, offering three shares for every one held.

The upcoming board meeting has created optimism among investors, contributing to Wipro's recent rally. Expectations of bonus shares tend to boost demand for the stock, as investors anticipate enhanced liquidity and potential future gains.

Even last month, the company was under investor focus as Wipro built an AI-enabled data strategy for JFK international air terminal. Let's take a detailed look at the company's latest achievement.

Wipro Advances AI-Powered Data Strategy for JFK Terminal

Wipro is helping JFK International Air Terminal (JFKIAT), which manages Terminal 4 at JFK Airport, develop a cloud-based data strategy. This project uses Microsoft's Azure Data Platform to integrate AI-powered analytics.

It aims to create a unified view of airport data across different operations, improving efficiency and boosting revenue.

The three-year project began in 2023 and focuses on centralising data management.

Wipro successfully built the core data foundation in the first year, transforming business intelligence in key areas such as operations, finance, and safety.

In the next phase, Wipro will introduce solutions targeting non-aviation revenue, enhance customer experience, and support connected planning. This initiative will help JFKIAT achieve long-term operational goals and improve terminal performance.

What Next?

Wipro is focused on long-term growth by driving large deals, strengthening key client relationships, and expanding its consulting capabilities.

It plans to secure more high-value contracts by collaborating closely with partners and leveraging AI-powered solutions. This strategy aims to improve operating models and unlock new business opportunities.

The company is also investing in talent development through personalised learning platforms and AI upskilling. It has trained over 225,000 employees in AI, with 30,000 receiving advanced training.

This focus on developing internal expertise will help Wipro maintain a competitive edge in emerging technologies. Wipro aims to accelerate the adoption of generative AI (GenAI) within its own operations and client solutions.

This includes rolling out GenAI tools across departments to improve productivity and delivery quality. The company is confident that these innovations will enhance its capabilities and prepare it for future demand.

With efforts to grow in strategic markets and increase efficiency, Wipro is targeting stable margins with potential improvements in the coming quarters. Its long-term vision is to build momentum across sectors, take advantage of new opportunities, and achieve steady progress.

How Wipro Share Price has Performed Recently

In the past five days, Wipro share price has surged 5.3%. In the last month, it has slipped marginally.

The stock price has surged 15.4% in 2024 so far. Additionally, it has rallied 34.3% in the last year.

The stock touched its 52-week high of Rs 580 on 19 July 2024 and a 52-week low of Rs 375 on 26 October 2024.

About Wipro

Wipro is one of the leading global IT, consulting and business process services companies.

Wipro was incorporated in 1945 as Western India Vegetables Product Limited. It was a consumer care product manufacturer till 1980 after which it diversified into the IT services business.

With effect from 1 April 2012, the company demerged its other divisions (consumer care and lighting, medical equipment, and infrastructure engineering) into a separate company called Wipro Enterprises.

Wipro's operations can be broadly classified into IT Services, IT Products, and India State Run Enterprise.

For more details about the company, you can have a look at Wipro Company fact sheet and Wipro quarterly results on our website.

For a sector overview, you can read our IT sector report.

You can also compare Wipro with its peers on our website:

Wipro vs TCS

Wipro vs Infosys

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

Happy Investing!

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