Wipro shares are trading marginally lower as the stock turns ex-bonus today. However, there was a bit of a scare in early trade as some apps showed the share price lower by 50%. This was however a technical issue. Compared to the December 2 closing price of Rs 584, the stock that went ex-bonus with a 1:1 bonus issue was trading around Rs 295. As a result, the unadjusted drop was nearly 50%. However, that’s only an adjustment that needs to be factored in.
Wipro announced 1:1 bonus issue after the Q2 FY25 numbers were released. In fact, this is the fourth bonus issue in the last 15 years. The last time it gave a bonus issue was in 2019 in the ratio of 1:3, which means for every three shares held one extra share was issued. Before 2019, it announced a bonus issue in 2017 in the ratio of 1:1.
Wipro’s performance in Q2
In Q2 FY25, the software company reported a consolidated net profit of Rs 3,208.8 crore, a growth of 6.85% increase quarter-on-quarter from Rs 3,003.2 crore in Q1 FY25. Its revenue grew by 1.5% sequentially, to Rs 22,301.6 crore from Rs 21,963.8 crore in the previous quarter.
Wipro Vs Nifty 50
The stock of Wipro has fallen 0.95 in the last five trading days. However, the stock has risen 0.8% in the last one month and 32% in the past six months. It has risen 22.5% from year to date and more than 43% in the last one year.
To compare, the benchmark index, Nifty 50 has fallen 1.2% in the last five trading sessions. The index has wiped out 3.25% in the last one month. However, the index has risen 9% in the last six months. It gave a return of 0.2% from year to date and over 3% in the last one year.
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