Shares of Wipro tumbled nearly 5 per cent on the Bombay Stock Exchange after the stock turned ex-date for the proposed buyback today.
As on September 1, 2017, the company has fixed September 15, 2017 as the record date for the purpose of determining the entitlement and the names of equity shareholders who are eligible to participate in the buyback.
Weighed down by the development, shares of the company declined as much as 4.88 per cent to trade at intra-day low of Rs 281.60 apiece on the Bombay Stock Exchange.
In a similar fashion, shares of the company were trading 4.21 per cent lower at Rs 283.45 apiece on the National Stock Exchange.
Meanwhile, the broader benchmark BSE Sensex was trading at 32,196.40, up 9.99 points, or 0.03 per cent, at 12:15 hours.