Wipro Shares Slip as IT Major Signals Share Buyback Plan After Securing Landmark $1 Billion-Plus Deal with Olam Group

Shares of

ro Limited edged lower on Thursday following the company’s announcement that its board will evaluate a proposal for a share buyback, even as the IT services firm continues to bask in the glow of one of its largest strategic wins in recent years—a multi-year transformation partnership with Singapore-based food and agri-business giant Olam Group. The IT company, in a regulatory filing after market hours on April 9, informed stock exchanges that its board of directors will consider “a proposal to buyback equity shares of the company and the matters necessary and incidental thereto” during its meeting scheduled for April 15-16, 2026. This would mark Wipro’s first share repurchase programme in nearly three years. On the bourses, Wipro shares closed 0.20 per cent lower at ₹202.90 on Thursday. The stock has shed around 17.62 per cent over the past six months amid broader pressures on the IT sector. The buyback buzz comes just days after Wipro announced a major eight-year strategic transformation deal with Olam Group on April 6. The engagement is expected to exceed US$1 billion (approximately ₹9,314 crore) in total contract value, with a committed spend of US$800 million.