Shares of showed resilience on Friday, trading flat at ₹203.37 at 10.14 am despite broader weakness in IT stocks.
The stock had opened nearly 3 per cent higher at ₹208.70 compared to the previous close of ₹202.87, reflecting early optimism among investors.
The movement in Wipro’s share price comes even as the Nifty IT index witnessed a sharp decline during the session, dragged down by losses in major peers. While most IT stocks traded in the red, Wipro managed to hold its ground, indicating selective buying interest.
Investor sentiment around the stock remained supported by the company’s upcoming board meeting scheduled for April 16, 2026, where it will consider a share buyback proposal alongside the announcement of its Q4 and FY26 results. According to brokerage Investec, the company could potentially undertake a buyback of around ₹16,000 crore, a move that has further strengthened market expectations of enhanced shareholder returns.
Market participants are closely watching the Q4 earnings for cues on demand trends, particularly in discretionary spending and client budgets, which have remained under pressure across the IT sector. However, the buyback consideration appears to have provided a cushion to Wipro’s stock, helping it outperform its peers in a weak market environment.
With the dual trigger of earnings and capital allocation decisions on the horizon, Wipro shares are likely to remain in focus in the coming sessions.
Meanwhile, gave up early gains amid selling pressure.