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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. </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. </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. </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. 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. 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. <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> Should you participate in the Wipro share buyback offer? 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. “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. 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. 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. Wipro outshines peers under new CEO’s guidance <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 </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 </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 </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 </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 </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% </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 </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 </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% </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 </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 </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% </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 </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 </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% </td></tr></tbody></table> Source: BSE Note: Share price as on 12:30 pm, December 29, 2020, compared with share price on July 1, 2020. ‘Existing shareholders should participate in the buyback’ 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,”. 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. If this segment sees over-participation, the buyback will be done proportionately, and not all shares tendered will be accepted. Wipro had undertaken buyback of equity shares worth ₹10,500 crore in 2019 as well. Wipro’s new CEO is driving the growth 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. “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. SEE ALSO: <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> <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> <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">RBI’s Sovereign Gold Bonds scheme opens today — price, how to apply, and more</a>

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

<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. 
 
 
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 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% 
 
 
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 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. <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>

 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. The buyback plan 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. 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%. 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. 
 
 
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 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. 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.

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

<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. 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). <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. 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. “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. <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 </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 </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 </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 </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 </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 </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 </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 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> SEE ALSO: <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> <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> <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). <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. 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. <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” “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. <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. SEE ALSO: <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> <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>

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

<ul><li><keyword id="10862" type="CITY" weightage="20" keywordseo="Wipro">Wipro</keyword>’s share price is down by over 6% after the company announced its second-quarter earnings post market hours yesterday.</li><li>This is despite Wipro posting stable earnings and its new CEO, Thierry Delaporte outlining the company’s top five priorities. </li><li>Analysts remain cautious, awaiting more details about Delaporte’s timeline and actionable items to execute this vision in the coming days. </li></ul><keyword id="1912963" type="PERSON" weightage="20" keywordseo="Wipro-share-price">Wipro share price</keyword> is down by over 6% despite having posted stable quarterly earnings. The company’s revenue was 2% over the last three months in constant currency terms, and its profit saw a 3.2% increase. <div type="image" title="Wipro share price Oct (1)" msid="78654032" hostid="261" caption="&amp;lt;p&amp;gt;Wipro share price over the last one month&amp;lt;/p&amp;gt;"></div> Wipro’s share price hit a 52-week high on Monday of ₹379 per share. So far this year, the stock has gained 52%. <div type="image" title="Wipro share price since Jan" msid="78654049" hostid="261" caption="&amp;lt;p&amp;gt;Wipro&amp;#39;s share price since January&amp;lt;/p&amp;gt;"></div> Show — don’t tell Wipro hasn’t always had the most smooth of transitions when it comes to changes in leadership. So, even with the company’s new <a href="https://www.businessinsider.in/business/corporates/news/wipro-ceo-thierry-delaporte-outlines-five-point-strategy-for-growth-looking-at-more-acquisitions-and-larger-deals/articleshow/78643942.cms">CEO Thierry Delaporte outlining Wipro’s top five priorities</a> with him at the helm, people want more information. <table style="border-width: initial; border-style: none; background-color: rgb(255, 255, 255); font-size: 16px; line-height: 1.6em; box-shadow: none; width: 468pt; font-family: Merriweather; table-layout: fixed; padding-bottom: 10px !important; background-image: inherit !important; background-position: inherit !important; background-size: inherit !important; background-repeat: inherit !important; background-attachment: inherit !important; background-origin: inherit !important; background-clip: inherit !important;"></colgroup><tbody><tr><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">Brokerage on Wipro </td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">Target price </td></tr><tr><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">ICICI Securities </td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">₹ 435 </td></tr><tr><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">Motilal Oswal Securities </td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">₹ 385 </td></tr><tr><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">Nirmal Bang </td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">₹ 382 </td></tr><tr><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">Kotak Institutional Equities </td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">₹ 380 </td></tr></tbody></table> Delaporte’s endeavour to catch up to its IT services peers like Tata Consultancy Services (TCS) and HCL Tech is commendable. Still, he needs to set out indicative timelines for quantified goals, according to Nirmal Bang. “Executing on these priorities will entail a set of changes that will be known over the coming months. After a strong and partly buyback-fuelled rally in the stock price, upsides will be modest,” added Kotak Institutional Equities in its report. Simply put, Wipro’s valuation may have become a little expensive over the past month. Nonetheless, analysts expect to see quicker deals, more acquisitions and traction in digital revenues for Wipro even as they maintain caution. “We await further evidence of execution of Wipro’s refreshed strategy and a successful turnaround from its growth struggles over the past decade before turning more constructive on the stock,” said Motilal Oswal Securities. Wipro also announced a <a href="https://www.businessinsider.in/business/corporates/news/wipro-posts-stable-quarter-profit-rises-3-2-with-revenue-guidance-of-1-5-to-3-5-over-the-next-three-months/articleshow/78640025.cms">share buyback plan of ₹9,500 crore</a> and the <a href="https://www.businessinsider.in/business/corporates/news/wipro-posts-stable-quarter-profit-rises-3-2-with-revenue-guidance-of-1-5-to-3-5-over-the-next-three-months/articleshow/78640025.cms">acquisition of Eximius Design</a>, a US-based engineering services company. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/apple-new-iphone-12-series-with-5g-launched-starting-at-rs-69999-along-with-side-homepod-mini-debut/articleshow/78647779.cms">Apple's new iPhone 12 series with 5G launched starting at ₹ 69,999 along with HomePod Mini debut</a> <a href="https://www.businessinsider.in/business/corporates/news/wipro-ceo-thierry-delaporte-outlines-five-point-strategy-for-growth-looking-at-more-acquisitions-and-larger-deals/articleshow/78643942.cms">Wipro CEO Thierry Delaporte outlines five-point strategy for growth — looking at more acquisitions and larger deals</a> <a href="https://www.businessinsider.in/careers/news/wipro-to-promote-80-of-its-eligible-staff-in-the-next-three-months-increments-will-be-in-line-with-last-year/articleshow/78643398.cms">Wipro to promote 80% of its eligible staff in the next three months — increments will be in line with last year</a>

Wipro’s share price dips by over 6% after earnings — analysts believe it will take a while to catch up to TCS and HCL Technologies

<ul><li>At 7:45 am, the SGX Nifty was up 0.17%, indicating a green start for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to begin on a tepid note on Wednesday, led by mixed cues from the global markets. The Indian markets ended at record highs on Tuesday, with Nifty inching closer to the 14,000 mark. At 7:45 am, the SGX Nifty was up 0.17%, indicating a green start for Nifty50. On Tuesday, the US stocks pulled back from record highs as hopes for $2,000 direct stimulus payments faded. The Dow Jones Industrial Average closed 0.22% lower, and the S&amp;P 500 was down 8 points. These are the stocks to watch out for during the trading session today: Jindal Stainless Jindal Stainless Hisar (JSHL) said its board had approved the company’s merger into the country’s largest stainless steel maker Jindal Stainless Ltd (JSL). Having a total melting capacity of 0.8 million tonnes per annum (MTPA), Hisar-based JSHL is the largest speciality stainless steel producer in India with a diversified value-added product portfolio. Future Retail &amp; RIL After Amazon, the<a href="https://www.timesnownews.com/business-economy/companies/article/future-retail-writes-to-sebi-asks-to-expedite-review-of-deal-with-reliance-retail-quickly/700431"> Kishore Biyani-led Future Group has written to market</a> regulator SEBI to review and approve its ₹24,713 crore deal with RIL. Future Group has requested SEBI to expedite the review of the proposed deal and issue a no-objection certificate, while Amazon had urged that the review of the “impugned transaction” be suspended. Jindal Steel &amp; Power Jindal Steel and Power (JSPL) said it had received the ‘regular rail supplier’ status from the Indian Railways. In a statement, JSPL said it had become the first private company in India to be awarded the ‘regular supplier’ status from the national transporter. SBI, PNB, HDFC Bank, ICICI Bank, Manappuram Finance, Muthoot, other NBFCs and banks SBI, PNB, HDFC Bank, ICICI Bank, Manappuram Finance, Muthoot, other NBFCs and banks will be in focus during the trade today. The <a href="https://timesofindia.indiatimes.com/business/india-business/financial-sector-faces-challenging-times-ahead-rbi/articleshow/80015883.cms">Reserve Bank of India (RBI) in a report</a> on Tuesday said the India's financial sector should brace for challenging times ahead with an increased risk of deterioration in asset quality and lower demand for loans. UPL UPL has completed the pre-payment of $410 million of 3.25% Senior Notes due October 2021. The company said that the pre-payment, which concluded on December 28, was done using the cash on its balance sheet. This prepayment is in line with its commitment to reduce debt. TCS &amp; Wipro The ₹16,000-crore buyback of Tata Consultancy Services, which will end on January 1, has received an overwhelming response from investors and has been subscribed 163% so far. Similarly, for Wipro, today is the second day to <a href="https://www.businessinsider.in/stock-market/news/wipro-share-buyback-offer-should-you-sell-your-shares-heres-what-analysts-are-saying/articleshow/80006272.cms">subscribe to ₹9,500 crore buyback</a>. The issue for Wipro will close on January 11. IRCTC Indian Railways will operate a special Mumbai-Delhi Rajdhani train 4 days a week. IIFL Securities The ₹90-crore share buyback for IIFL Securities will open today. SEE ALSO: <a href="https://www.businessinsider.in/politics/world/news/mitch-mcconnell-says-the-senate-will-consider-trumps-demand-for-2000-stimulus-checks-but-rejects-initial-vote/articleshow/80017236.cms" data-type="tilCustomLink">Mitch McConnell says the Senate will consider Trump's demand for $2,000 stimulus checks but rejects initial vote</a> <a href="https://www.businessinsider.in/thelife/news/american-airlines-just-completed-the-boeing-737-maxs-first-passenger-flight-in-the-us-since-march-2019/articleshow/80016117.cms" data-type="tilCustomLink">American Airlines just completed the Boeing 737 Max's first passenger flight in the US since March 2019</a> <a href="https://www.businessinsider.in/india/news/new-strain-of-uk-covid-19-virus-is-a-lot-more-contagious-warns-indias-health-ministry/articleshow/80011618.cms" data-type="tilCustomLink">The new strain of COVID-19 is a lot more contagious, warns India's Health Ministry</a>

Top stocks to watch — SBI, HDFC Bank, Wipro, RIL, Future Retail, TCS, Jindal Stainless, UPL, IRCTC, and others

<ul><li>At 7:45 am, the SGX Nifty was up 0.26%, indicating a green start for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to start on a stronger note on Thursday, led by positive cues from the global markets. They ended at record highs on Monday, with Nifty inching closer to the 14,000 mark. At 7:45 am, the SGX Nifty was up 0.26%, indicating a green start for Nifty50. The <a href="https://www.businessinsider.in/stock-market/news/us-stocks-close-at-record-highs-as-markets-cheer-900-billion-stimulus/articleshow/80001212.cms">US stocks closed </a>at record highs on Monday as investors cheered a $900 billion stimulus package that President Donald Trump signed on Sunday. The Dow Jones Industrial Average closed 0.68% higher, and the S&amp;P 500 was up 0.87%. These are the stocks to watch out for during the trading session today: Wipro Wipro’s ₹9,500 crore share buyback will begin today (December 29) and remain open until January 11. The last date for settlement of bids on the stock exchange will be on or before January 20. Future Retail and RIL The shares of Future Retail and RIL will be in focus during the trade today. The American e-commerce giant Amazon Inc <a href="https://www.livemint.com/companies/news/amazon-asks-sebi-to-wait-for-siac-order-11609180801940.html">has asked India’s markets regulator</a> to wait for a Singapore court’s final order before clearing future group companies’ merger. Biocon Biotechnology major Biocon has launched Tacrolimus capsules, an immunosuppressant, in the US market. Tacrolimus is used in the treatment of organ transplant patients, and it reduces the body’s ability to reject a transplanted organ. Titan Titan’s board has approved to provide corporate guarantees worth ₹906 crore to various banks on behalf of Titan Commodity Trading, a wholly-owned subsidiary of the company. AU Small Finance Bank AU Small Finance Bank announced that it has partnered with the private life insurance company ICICI Prudential Life Insurance to offer need and goal-based life insurance solutions. With this arrangement, the bank said over 18 lakh customers of the bank across over 700 banking touchpoints would have easy access to the entire suite of customer-centric protection and long-term savings products of ICICI Prudential Life. Cochin Shipyard Cochin Shipyard’s board is scheduled to meet on January 4 to consider the declaration of interim dividend to the company’s equity shareholders for the financial year 2020-21. 3i Infotech IT firm 3i Infotech has entered into definitive agreements to sell its software products business to the funds advised by Apax Partners for ₹1,000 crore. The software products business will be acquired by a newly formed Azentio Software company, wholly-owned by the Apax Funds, a statement said. Reliance Capital Anil Ambani’s Reliance Group company, Reliance Capital on Monday raised objection to the proposed 33.12% stake sale of Prime Focus (PFL) by Credit Suisse to PFL’s promoter group at ₹44.15 per share. The debt-ridden firm, Reliance Capital, termed the proposed transaction as a blatant abuse of the purported rights by Credit Suisse under certain lending agreements with the RCAP Group, the company said in a statement. SBI Life Insurance The Board of Directors of SBI Life Insurance Company on December 28 approved the appointment of Shobinder Duggal as an Additional Director in the company. SEE ALSO: <a href="https://www.businessinsider.in/politics/world/news/house-passes-bill-to-increase-600-stimulus-checks-to-2000/articleshow/80001571.cms" data-type="tilCustomLink">House passes bill to increase $600 stimulus checks to $2,000. It now goes to the Senate.</a> <a href="https://www.businessinsider.in/science/news/most-vaccine-skeptics-are-persuadable-and-will-get-the-covid-19-shot-says-a-nobel-prize-winner-who-studies-vaccine-hesitancy/articleshow/79995460.cms" data-type="tilCustomLink">Most vaccine skeptics are persuadable and will get the COVID-19 shot, says a Nobel prize-winner who studies vaccine hesitancy</a> <a href="https://www.businessinsider.in/stock-market/news/bitcoin-mining-stocks-surge-after-the-cryptocurrency-passes-28000-for-the-first-time/articleshow/79996286.cms" data-type="tilCustomLink">Bitcoin-mining stocks surge after the cryptocurrency passes $28,000 for the first time</a>

Top stocks to watch — Wipro, RIL, Future Retail, Reliance Capital, AU Small Finance, Biocon, Titan, and others

<ul><li>At 7:40 am, the SGX Nifty was down 0.53%, indicating a negative start for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to open in negative territory on Thursday, on the back of subdued cues from the global peers. At 7:40 am, the SGX Nifty was down 0.53%, indicating a weak start for Nifty50. US stocks also tumbled during the afternoon trade as new lockdown restrictions erased morning optimism about Pfizer’s coronavirus vaccine news. The Dow Jones Industrial Average closed 344 points lower, and the S&amp;P 500 was down 1.16%. These are the stocks to watch out for during the trading session today: Pfizer Global drugmakers Pfizer and BioNTech concluded phase 3 study of COVID-19 vaccine candidates and said their COVID-19 vaccine candidate is<a href="https://www.businessinsider.in/science/health/news/pfizers-new-covid-19-vaccine-is-95-effective-and-the-only-severe-side-effect-to-worry-about-is-fatigue-according-to-the-final-results/articleshow/79284286.cms"> 95% effective</a>, including in people over 65 years of age. Based on current projections, the companies expect to produce globally up to 50 million vaccine doses in 2020 and up to 1.3 billion doses by the end of 2021. The shares of Pfizer ended 0.92% lower on Wednesday. TCS The shareholders of Tata Consultancy Services (TCS) said its shareholders have approved its up to ₹16,000 crore share buyback plan.Last month the board of TCS approved a proposal to buyback upto 5.33 crore equity shares at a price of ₹3,000 for an aggregate amount not exceeding ₹16,000 crore. The shares of TCS ended 1.50% lower on Wednesday. Wipro IT services giant Wipro has fixed December 11 as the record date for its ₹9,500 crore share buyback programme. Its board and shareholders have already approved its proposal to buy back upto 23.75 crore equity shares of the company at ₹400 per share. The shares of Wipro ended 0.92% lower on Wednesday. Hero MotoCorp Two-wheeler market leader Hero MotoCorp said it sold more than 14 lakh units of motorcycles and scooters in retail sales during the festive season. Despite severe disruptions due to COVID-19 this year, the good retail off-take during the 32-day festival period — spread between the first day of Navratri and the concluding day after Bhai Duj — was 98% of the festive season volumes sold by the company in 2019 and 103% compared to the same period in 2018. The shares of Hero MotoCorp ended 1.40% lower on Wednesday. Punjab &amp; Sind Bank State-owned Punjab &amp; Sind Bank on Wednesday said the board of the bank would meet later this week to consider raising up to ₹5,500 crore by issuing shares on a preferential basis. The shares of Punjab &amp; Sind Bank ended 0.88% higher on Wednesday. GPT Infra GPT Infraprojects Limited (GPT) has bagged an order valued at ₹162.83 crore from the Hooghly River Bridge Commissioners (HRBC), Transport Department, Government of West Bengal, Kolkata. The contract is for repair and rehabilitation of the second Hooghly Bridge, including replacement of Stay and Holding Down Cables and Bearings etc. The shares of GPT Infra ended 2.09% higher on Wednesday. Lakshmi Vilas Bank Capri Global Holdings sold more than 20 lakh shares of Lakshmi Vilas Bank through an open market transaction. According to the bulk deal data available on the BSE, Capri Global Holdings offloaded a total of 20,55,161 shares at an average price of ₹12.40 apiece. This took the total deal value to ₹2.54 crore. The shares of Lakshmi Vilas Bank ended 20% lower on Wednesday. IndiGo According to the air regulator DGCA data, IndiGo passenger load has increased from 65.4% in September to 68.2% in October. IndiGo holds 55.5% market share in Indian skies. The shares of IndiGo ended 5% higher on Wednesday. SpiceJet According to the air regulator DGCA data, SpiceJet passenger load has increased from 73% in September to 74% in October. SpiceJet holds 13.4% market share in Indian skies. The shares of SpiceJet ended 13% higher on Wednesday. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/dow-tumbles-345-points-as-fresh-lockdown-measures-overshadow-vaccine-progress/articleshow/79292917.cms" data-type="tilCustomLink"> Dow tumbles 345 points as fresh lockdown measures overshadow vaccine progress</a> <a href="https://www.businessinsider.in/science/health/news/pfizers-new-covid-19-vaccine-is-95-effective-and-the-only-severe-side-effect-to-worry-about-is-fatigue-according-to-the-final-results/articleshow/79284286.cms" data-type="tilCustomLink">Pfizer's new COVID-19 vaccine is 95% effective and the only severe side-effect to worry about is fatigue, according to the final results</a>

Top stocks to watch — Pfizer, TCS, Wipro, Hero Moto, Lakshmi Vilas Bank, SpiceJet, IndiGo, and others

<ul><li>The 30-share BSE index was trading 353 points higher, and the broader NSE Nifty climbed 0.88% on Wednesday at 10:00 am.</li><li>Here’s a list of the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>The Indian equity benchmark indexes rose for an eighth straight session on Wednesday, hitting record highs, driven by strong earnings reports and gains in pharmaceutical stocks. The 30-share BSE index was trading 353 points higher, and the broader NSE Nifty climbed 0.88% on Wednesday at 10:00 am. Nifty50's market cap crossed ₹100 trillion-mark for the first time, today. Here’s a list of the top losers and gainers in the Nifty pack. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finance </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hero MotoCorp </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Titan </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">M&amp;M </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HUL </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cipla </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Britannia </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">GAIL </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Asian Paints </td></tr></tbody></table>*as of November 11, 9:55 am These are the top stocks in news today. NMDC shares shed 4% post shares buyback announcement State-owned NMDC lost over 4% after the board of the company approved buyback of 13.12 crore equity shares at a price of ₹105 per share for cash consideration not exceeding ₹1378.05 crore. The buyback price is at a premium of 10% to the closing price of November 10. GAIL extend gains to the second day The shares of gas transportation utility GAIL rose for the second day in a row on Wednesday. The company reported 16.5% growth in its net profit for the second quarter of the current financial year to ₹1,239 crore as compared to ₹1,065 crore profit in the corresponding period last year. Aarti Industries down 3% The shares of chemical manufacturing company Aarti Industries lost 3% after it reported a 5.46% drop in its consolidated net profit to ₹143.50 crore. The profit plunged despite 18.68% growth in its revenues to ₹1,172.64 crore. SBI gains over 2% The shares of public sector bank SBI gained over 2% after its board approved to divest over 8.5% in UTI Trustee Company. Wipro up over a percent after winning a five-year contract The shares of IT major gained over a percent after Wipro bagged a five-year contract for software engineering services fromThoughtSpot. California headquartered ThoughtSpot is a search and Artificial Intelligence-driven analytics platform that helps explore, analyse and share real-time business analytics data easily, the company said in a statement. SEE ALSO: <a href="https://www.businessinsider.in/thelife/news/the-worlds-longest-flight-just-quietly-touched-down-in-new-york-heres-why-you-havent-heard-anything-about-it-/articleshow/79161300.cms" data-type="tilCustomLink">The world's longest flight just quietly touched down in New York. Here's why you haven't heard anything about it.</a> <a href="https://www.businessinsider.in/tech/news/apple-brought-back-the-iconic-and-im-a-pc-character-at-its-new-product-event/articleshow/79161458.cms" data-type="tilCustomLink">Apple brought back the iconic 'And I'm a PC' character at its new product event</a>

You Searched For "wipro buyback price" and got 10 results

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

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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

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’s share price dips by over 6% after earnings — analysts believe it will take a while to catch up to TCS and HCL Technologies

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Top stocks to watch — SBI, HDFC Bank, Wipro, RIL, Future Retail, TCS, Jindal Stainless, UPL, IRCTC, and others

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Top stocks to watch — Wipro, RIL, Future Retail, Reliance Capital, AU Small Finance, Biocon, Titan, and others

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Top stocks to watch — Pfizer, TCS, Wipro, Hero Moto, Lakshmi Vilas Bank, SpiceJet, IndiGo, and others

Navdeep Yadav

Nifty50 market cap crosses ₹100 lakh crore — these are the top movers today

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