Wipro jumps 6% as board to consider issue of bonus shares later this week

Board will also consider a proposal for issue of bonus shares later this week.

Wipro shares rallied 6 percent intraday Tuesday ahead of board meeting later this week to consider the issue of bonus shares.

The meeting of the board of directors will be held over January 17-18, 2019 to consider and approve the condensed audited standalone and consolidated financial results of the company under IndAS for the quarter ended December 31, 2018 and declaration of interim dividend, if any, for the financial year 2018-19 .

In addition, the board will also consider a proposal for issue of bonus shares at the aforesaid meeting.

The financial results and issue of bonus shares would be finally approved by the board on the evening of January 18, 2019, the IT services company said.

The trading window for dealing in the securities of the company has been closed from December 16, 2018 till the closing hours of January 20, 2019, it added.

Overall rally in IT stocks was also because of depreciation in rupee that breached 71 against the US dollar for the first time since December 18, 2018, down 11 paise from previous close.

The Nifty IT index gained more than 2 percent today.At 12:14 hours IST, the stock was quoting at Rs 329.60, up Rs 16.25, or 5.19 percent on the BSE.

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