Wipro Stock Up After Bonus Issue Approval By Shareholders

IT major Wipro Limited on Sunday notified that the company has received approval for increase in authorized share-capital and issue of bonus shares from the majority of its share-holders. 

The company further added that its authorized share capital consequently stands increased from Rs1,126.50-cr to Rs2,526.50-cr by creation of additional 700cr equity shares of Rs2 each.

As notified by the company, 98.82-percent votes cast were in favor of increasing the authorized share capital, and 99.81-percent were in favor of offering bonus shares.

Post the announcement, Shares in Wipro hit a new 52-week high of Rs383.10 on the NSE on Monday late morning hours. At 11.50am, the share price was quoting at Rs380.60 per share up by Rs1.85 or 0.49percent on the NSE, while benchmark Nifty at 10806.95 up by 15 points and Sensex showed at 35959.63 up by 88-points.

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