Wipro Share Price: Private equity company Premji Invest has bought a 1.6 percent stake in IT company Wipro for Rs 4,757 crore through open market transactions. Billionaire Azim Premji's private equity (PE) firm bought Wipro shares through a bulk deal on the National Stock Exchange (NSE) through its unit Prazim Trading and Investment Company Private Limited. According to the data, Prazim Trading and Investment Company bought 8,49,54,128 shares equivalent to a 1.62 percent stake in Bengaluru-based Wipro.

Transaction worth Rs 4757.43 crore

The shares were bought at an average cost of Rs 560 per share. This made the value of the transaction Rs 4,757.43 crore. Meanwhile, Prajim Traders promoted by Azim Premji sold more than 4.49 crore shares of Wipro, while Jaish Traders sold four crore shares of the company at the same price. Prajim and Jaish Traders are two promoter units of Wipro. A day earlier on Friday, at the end of the trading session, Wipro's share closed at Rs 568.60 with a gain of 0.92 percent on NSE. This block deal has happened at a time when bonus shares are being distributed by the company.

How were the quarterly results?
Wipro's profits increased in the second quarter of the current financial year 2024-25. The company's net profit has increased by 21.2 percent to Rs 3,208.8 crore as compared to the same period last year. This increase is a positive sign for the company and shows that Wipro has been successful in strengthening its business. However, the company's operating income saw a slight decline. Operating income declined by 0.95 percent to Rs 22,301.6 crore in this quarter as against Rs 22,515.9 crore in the same quarter last year.

Wipro, the company that is distributing bonus shares,
has given a big gift to its shareholders. A proposal has been approved by the board of directors of the company under which the company will issue bonus shares to all its eligible shareholders. According to this proposal, every shareholder will be given one bonus share for every share he holds. This decision is very good news for the shareholders of Wipro because this will give them more stake in the company. Issuing bonus shares does not mean that the value of the company's shares will increase. Issuing bonus shares increases the number of shares of the company but it reduces the share price.