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Tata Motors, TCS, Paytm, and other hot stocks on January 13

<ul><li>The <keyword id="10862" type="CITY" weightage="20" keywordseo="Wipro">Wipro</keyword> share buyback offer is now open at a buyback price of ₹400 per share.<br /></li><li>The total size of the buyback plan is ₹9,500 crore, out of which 15% is reserved for small investors with up to ₹2 lakh holding in the company.<br /></li><li>Wipro’s share price has rallied by over 66% since July, and the buyback offer could be a good way to cash out those gains.<br /></li></ul>IT services giant Wipro announced a share buyback offer at a premium of 10% when compared to the share price on the date of announcement. Wipro has offered ₹400 per equity share under its ₹9,500 crore buyback plan.<br /><br />The Wirpo share buyback offer is open till January 11, 2021. Equity shareholders who held shares in the company on or before December 11, 2020 are eligible to participate in the buyback.<br /><br />Wipro’s share price as on December 11 was ₹353. The shares hit a 52-week high at ₹390.40 with the buyback plan opening today.<br /><br /><div type="image" title="Wipro share price chart" msid="80006298" hostid="261" caption="&amp;lt;p&amp;gt;Wipro share price since July this year&amp;lt;/p&amp;gt;"></div><br /><br /><strong>Should you participate in the Wipro share buyback offer?<br /></strong><br />If you are an existing Wipro shareholder, you might be considering selling your shares in the buyback program. But before you proceed, here’s what analysts are saying.<br /><br />“It depends on the market price during the buyback period - if the share price is below the buyback price, it might be worth considering,” said Deepak Shenoy, founder of Capital Mind, a Bengaluru-based research house.<br /><br />Wipro shares were trading at ₹386 as of 12 pm on December 29, up by 0.92%. Since the buyback offer is open till January 11, 2021, the share price could still see a lot of movement.<br /><br />This makes it important to wait towards the last few days of the buyback scheme to see if the buyback price makes sense, Shenoy further explained.<br /><br /><strong>Wipro outshines peers under new CEO’s guidance<br /></strong><br /><table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company<br /><br /></td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Current share price<br /><br /></td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Performance<br /><br /></td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.99375pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS<br /><br /></td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.99375pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,935.95<br /><br /></td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.99375pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">40%<br /><br /></td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys<br /><br /></td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,241.5<br /><br /></td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">70%<br /><br /></td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech<br /><br /></td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹934.3<br /><br /></td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">69%<br /><br /></td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro<br /><br /></td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹386<br /><br /></td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">76%<br /><br /></td></tr></tbody></table><br />Source: BSE<br /><br />Note: Share price as on 12:30 pm, December 29, 2020, compared with share price on July 1, 2020.<br /><br /><strong>‘Existing shareholders should participate in the buyback’<br /></strong><br />However, Urmil Shah, analyst at IDBI Capital, struck a different note. He said, “Existing shareholders should participate in the buyback and tender their shares. We believe the buyback price is at a premium compared to our existing fair price of ₹366,”.<br /><br />He further explained that a lot would also depend on the amount of participation in the buyback plan. According to the plan, 15% of the total buyback offer is reserved for retail investors with holdings of up to ₹2 lakh.<br /><br />If this segment sees over-participation, the buyback will be done proportionately, and not all shares tendered will be accepted.<br /><br />Wipro had undertaken buyback of equity shares worth ₹10,500 crore in 2019 as well.<br /><br /><strong>Wipro’s new CEO is driving the growth<br /></strong><br />Wipro appointed Thierry Delaporte as its new chief executive officer in July this year. <a href="https://www.businessinsider.in/business/corporates/news/wipro-ceo-delaportes-new-plan-could-allow-company-to-catch-up-to-to-tcs-infosys-hcl-tech-and-others/articleshow/79299467.cms">Analysts are betting</a> on the new CEO’s plans for the company.<br /><br />“Wipro is undertaking the drastic restructuring of its business, reducing the layers, and splitting the business by region. It expects this to result in a much more agile and nimble organisation, which will accelerate growth,” remarked Motilal Oswal’s report.<br /><br /><strong>SEE ALSO:<br /><br /><a href="https://www.businessinsider.in/business/corporates/news/wipro-buyback-offer-details-and-700-million-metro-ag-deal-drives-share-price/articleshow/79911875.cms">Wipro offers 10% more to buy back shares and signs a $700 million deal with Metro AG – everything that’s driving the IT services stock higher today</a><br /><br /><a href="https://www.businessinsider.in/business/corporates/news/wipro-buys-the-it-operations-of-a-german-food-services-firm-for-700-million/articleshow/79909949.cms">Wipro buys the IT operations of a German food services firm for $700 million</a><br /><br /></strong><a href="https://www.businessinsider.in/finance/news/what-is-rbis-sovereign-gold-scheme-and-how-and-who-can-apply-checkout-all-information/articleshow/79987008.cms"><strong>RBI’s Sovereign Gold Bonds scheme opens today — price, how to apply, and more</strong></a><br />

Wipro share buyback offer – should you sell your shares? Here’s what analysts are saying

<br /><ul><li>The Union Budget announced a 20% tax on buyback shares last week and IT companies are already feeling the pressure. </li><li>The Budget also proposed increasing public shareholding limits in a company to 35%, which means promoters of companies will have to <a href="https://www.businessinsider.in/indian-promoters-may-sell-3-7-trillion-worth-shares-to-meet-new-free-float-norms/articleshow/70122641.cms">dilute their shareholding</a>.</li><li>The new changes will particularly impact Wipro and Infosys since payout yields, rather than earnings, was the primary determinant for investors.</li></ul>What was shaping up to be a year of buybacks might be for naught with <a href="https://www.businessinsider.in/budget">Union Budget 2019</a> announcing a 20% dividend distribution tax on buyback shares with immediate effect. <br /><br />
  
  
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<br />Dampening the markets further, Nirmala Sitharaman also announced a proposal to increase the minimum public shareholding limits in a company from the current 25% to 35%<br /><br />
  
  
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<br />Both, the buyback tax and increase in public shareholding, might lead to a 4-8% fall in the yield of IT stocks, according to Dart Research. Infosys and Wipro, in particular, will bear the impact since payout yields, rather than company earnings, was one of the primary determinants for investors.<br /><br /><div type="ExtQuote" text="The announcement of a 20% tax on buybacks goes further than just eliminating the tax arbitrage with dividend payout – it spells the end of the buyback option altogether for corporates." auname="India Infoline"></div>

<br />The combination of both those factors is one of the major reasons behind the <a href="https://economictimes.indiatimes.com/markets/stocks/news/budget-blues-sensex-tanks-793-pts-logs-biggest-single-day-fall-in-three-years/articleshow/70128208.cms">biggest</a> Sensex crash in three years — and IT companies are bearing the brunt.<br /><br /><strong>The buyback plan<br /></strong><br />IT giants, Infosys and Wipro, whose buyback offers were open at the time of the budget, saw their stocks drop with the announcement of a 20% tax on the buyback of shares.<br /><br />Infosys and other IT giants — like TCS, Infosys, HCL Tech, and Tech Mahindra — have been using buybacks to payout shareholders because paying out dividends attracts a tax of 20.56%. <br /><br />For the past three years, these companies have been using a mix of both dividend payouts and share buybacks to distribute cash to their shareholders.<br /><br />
  
  
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<br />Infosys announced a ₹8,260 buyback offer in January. Soon after, Wipro announced its buyback offer in April this year, which is the third of its kind in the past four years.<br /><br />Cumulatively in the past two years, Wipro has used buybacks to make 90% of its shareholder payouts. TCS, on the other hand, made 60% payouts using buybacks.<br /><br /><br /><br />

TCS, Wipro, Infosys and peers may have to review share buyback plan as the new budget may take a bite out of it

<br /><br /><ul><li>IT major Wipro’s first quarter net profits grew by 12.6% at ₹23.9 billion as compared to that of the same quarter last year, which was at ₹21.2 billion<br /></li><li>The company’s revenues for the first quarter of 2019-20 grew by 5.3% to ₹147.2 billion as compared to last year’s first quarter revenues at ₹139.8 billion.<br /></li><li>However, the operating margins for the IT services segment had a flat growth at 18.4%, growing by a mere 0.8%. <br /></li></ul>IT major Wipro’s first quarter net profits grew by 12.6% to ₹23.9 billion as compared to that of the same quarter last year. This was better than the 11% profit growth clocked by Tata Consultancy Services (TCS) and Infosys’ 5%.<br /><br />Wipro said it expects its IT services revenue will grow, at best, 2% in the following three months ending September, similar to that of Infosys.<br /><br />Infosys had projected a total growth 8.5% to 10% for the full year ending March 2020, which would imply a compounded quarterly growth 1.6% to 1.9%, according to a BOBCAPS research report. TCS to hinted at a double-digit growth for the year.<br /><br />Wipro’s revenue for the first quarter of 2019-20 grew by 5.3% to ₹147.2 billion but the margin in the IT services segment flattened at 18.4%. “We had a slower start to the year, we however remain focused on our operations and continue to invest in talent and capabilities for the future,” said Jatin Dalal, Chief Financial Officer of Wipro. <br /><br /><strong>New deals<br /></strong><br />All three major IT service providers from India have bagged new clients helping their outlook going forward. “Our efforts on client mining have resulted in an addition of three customers in more than $100 million bucket. We will continue to build differentiated capabilities to drive business transformation for our customers by investing in our big bets,” said Abidali Z. Neemuchwala, CEO and Executive Director at Wipro. <br /><br />TCS and Infosys too, announced big signings last week along with their quarterly numbers. TCS bagged new deals worth $5.7 billion in the last quarter while Infosys set a new record for itself with new deals worth $2.7 billion.<br /><br />However, the good news for investors is that Wipro plans to continue with its proposed buyback offer of 323 billion shares, which was approved by the board in April, after a green light from market regulator SEBI. The final shareholder approval came in on June 21.<br /><br />Investors may have been worried that the company may rollback the plan after the government decided to impose a 20% tax on share buyback because companies were using share buybacks to give money back to shareholders instead of dividends, which are also taxable in India.<br />

Wipro’s profit grows faster than TCS and Infosys — but it’s share buybacks and new deals keeping hopes up for IT investors

<ul><li>The IT giant announced share buyback of ₹4,500 per share, which is at nearly 17% premium from previous close price.</li><li>Following this, shares of the company rose 1.4% and among top 5 gainers on the benchmark index Nifty 50.</li><li>Check out our <a href="https://www.businessinsider.in/bi-newsletter">weekly explainers</a> on the hottest topics and <a href="https://www.businessinsider.in/newsletters_signup.cms">sign up</a> if you like them.</li></ul>Shares of the Mumbai-based IT giant <keyword id="6357150" type="General" weightage="20" keywordseo="tcs" source="Orion">TCS</keyword> climbed 1.4% in the opening trade as investors cheered the company’s December quarter earnings as well as the plan to buy back shares.<br /><br />The software exporter that crossed $25 billion in annual revenue, with three months to spare in the financial year, has offered to buy back shares at a price up to ₹4,500 apiece, that’s 17% more than the closing price on Wednesday (Jan 12).<br />          <div type="image" title="tcs share 2" height="900" width="1200" msid="88868131" hostid="261"></div>That’s not the entire reason for the cheer. Revenue grew a strong 4.5% in constant currency terms (adjusted for foreign exchange fluctuations). This would compare to Infosys’ 7% and Wipro’s 3% in the same period i.e. October to December 2021. <br /><br />The fall in operating margin to 25%, due to rising cost of hiring and retaining talent, was disappointing but it is not a concern, analysts at Morgan Stanley reportedly said.<br /><br />“TCS delivered strong growth numbers and the overall pipeline remains robust. We believe demand for core transformation remains strong, and this coupled with exemplary execution is likely to drive strong earnings,” said analysts at Edelweiss Research.<br /><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage firms<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Target price<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Morgan Stanley<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,400 <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Citi<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,580 <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Edelweiss Research<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5,000 <br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table><br /><br /><strong>SEE ALSO: </strong><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/news/tcs-vs-infosys-vs-wipro-how-indias-three-it-giants-stack-up-against-each-other/slidelist/88860676.cms">TCS vs Infosys vs Wipro Q3 results – here’s how India’s three IT giants stack up against each other</a><br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/tcs-completes-its-fresher-hiring-target-three-months-ahead-of-schedule-but-its-not-done-yet/articleshow/88858310.cms">TCS completes its fresher hiring target three months ahead of schedule but it’s not done yet</a><br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/news/tcs-will-buy-back-shares-worth-18000-crore-for-a-price-up-to-4500-apiece/articleshow/88859747.cms">TCS will buy back shares worth ₹18,000 crore for a price up to ₹4,500 apiece</a>

TCS shareholders cheer share buyback and strong growth

<ul><li><keyword id="6357150" type="General" weightage="20" keywordseo="tcs" source="Orion">TCS</keyword> has announced share buyback at ₹4,500 per share, which is nearly 17% more from previous close price.</li><li>It added 10 new clients in the December quarter that has revenue potential of $100 million for the software exporter.</li><li>The IT giant reported revenue on quarter growth of 4.5% in constant currency.</li></ul>Tata Consultancy Services (TCS) said that it would buy back shares worth ₹18,000 crore. It will offer a price of up to ₹4,500 a share. That’s a premium of nearly 17% to the closing price on Wednesday (January 12).<br /><div type="image" title="TCS share" height="900" width="1200" msid="88859723" hostid="261"></div>TCS revealed its share buyback plan along with reporting a 4.5% growth in revenue in constant currency terms. This is comparable to Infosys (7%) and Wipro (3%) in the same period. <br /><br />Since companies like Wipro, TCS, and Infosys export software, and earn in dollars, pounds or euros, they report growth in constant currency terms, which is adjusted for foreign exchange fluctuations. <br /><div type="image" title="TCS dollar" height="900" width="1200" msid="88859729" hostid="261"></div>TCS added 10 new clients whose annual revenue potential is $100 million or more in a year for the company. “Quote on deals”<br /><br />“Overall we don’t have a specific preference of small deal, medium deal or large deal. We participate across the board and stay continuously engaged across the full spectrum. Very large deals like $500 million or billion dollar deals, they by nature are few and far between. More importantly, they take a long time to mature and are unpredictable in terms of when they will close. There are a few in the pipeline but we can't tell as to when they will come through,” said Rajesh Gopinathan, chief executive officer and managing director at TCS. <br /><div type="image" title="TCS clients" height="900" width="1200" msid="88859738" hostid="261"></div>The largest Indian IT firm has reported 12% on year growth in net profit of ₹9,769 crore in the December quarter. The company has also announced a dividend of ₹7 per share to investors. <br /><br /><strong>SEE ALSO: </strong><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/tcs-completes-its-fresher-hiring-target-three-months-ahead-of-schedule-but-its-not-done-yet/articleshow/88858310.cms">TCS completes its fresher hiring target three months ahead of schedule but it’s not done yet</a><br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/the-attrition-at-infosys-is-worse-than-that-at-wipro-ceo-salil-parekh-has-increased-hiring-plan-by-10000/articleshow/88856648.cms">The attrition at Infosys is worse than that at Wipro, Salil Parekh has increased hiring plan by 10,000</a><br />

TCS will buy back shares worth ₹18,000 crore for a price up to ₹4,500 apiece

<br /><ul><li><keyword id="10862" type="CITY" weightage="20" keywordseo="Wipro">Wipro</keyword> will be promoting 80% of its eligible employees over the next three months. <br /></li><li>The increments awarded will be inline with what was used as the yardstick last year. <br /></li><li>The company is also looking at the increment cycle for its junior employees.<br /></li></ul>The Indian IT services behemoth Wipro is set to implement ‘a number of employee interventions’ in the third quarter. The biggest is its endeavour to promote 80% of its eligible staff over the next three months. <br /><br /><div type="Article" hostid="261" msid="78640025" title="Wipro posts stable quarter — profit rises 3.2% with revenue guidance of 1.5% to 3.5% over the next three months" mstype="2" mssubtype="0"></div><br />Wipro Chief of Human Resources (CHRO) Saurabh Govil shared that the increments this time around will be in line with what was given last year. “This will make sure that we are rewarding the high performing team members and colleagues,” he said during the earnings call on October 13.<br /><br />The company added 30,000 people to its roster between July to September. It also paid out 100% variable pay to its employees in the second quarter. <br /><br />“Now, we’re looking at our increment cycle of junior employees who we’ve hired from engineering colleges,” added Govil during the earnings call on October 13.<br /><br /><div type="Article" hostid="261" msid="78638511" title="Wipro board approves ₹9,500 crore share buyback plan" mstype="2" mssubtype="0"></div><br />Despite the H-1B restrictions imposed by the Trump administration in the US, Wipro is not worried. According to the company, localisation of employees has been in the works for three years now. Nearly 70% of Wipro’s employees in the US are local. “From a business standpoint, we don’t see this impacting us,” said Govil.<br /><br />98% of Wipro’s employees continue to work from home. According to Govil, this will continue until the end of the year.<br /><br /><strong>SEE ALSO:<br /><a href="https://www.businessinsider.in/business/corporates/news/infosys-announce-second-quarter-earnings-on-october-14/articleshow/78640964.cms">VanGuard deal will be the highlight of Infosys' second-quarter earnings as investors look for a hike in guidance</a><br /><br /><a href="https://www.businessinsider.in/business/corporates/news/wipro-board-approves-9500-crore-share-buyback-plan/articleshow/78638511.cms">Wipro board approves ₹9,500 crore share buyback plan</a><br /><br /></strong><a href="https://www.businessinsider.in/tech/news/oneplus-chinese-company-co-founder-carl-pei-exits-company-one-day-ahead-of-flagship-mobile-launch/articleshow/78634270.cms"><strong>OnePlus co-founder Carl Pei reportedly exits company one day ahead of flagship smartphone launch</strong></a><br />

You Searched For "wipro buyback" and got 7 results

Tata Motors, TCS, Paytm, and other hot stocks on January 13

Rounak Jain

Wipro share buyback offer – should you sell your shares? Here’s what analysts are saying

Rounak Jain

TCS, Wipro, Infosys and peers may have to review share buyback plan as the new budget may take a bite out of it

Prabhjote Gill

Wipro’s profit grows faster than TCS and Infosys — but it’s share buybacks and new deals keeping hopes up for IT investors

Prabhjote

Katya

TCS shareholders cheer share buyback and strong growth

Bhakti Makwana

TCS will buy back shares worth ₹18,000 crore for a price up to ₹4,500 apiece

Bhakti Makwana

Wipro to promote 80% of its eligible staff in the next three months — increments will be in line with last year

Prabhjote Gill

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