Wipro is set to announce a share buyback programme along with its Q4 results to provide relief to investors who have experienced losses near 30% in the past year. The IT major’s net income is estimated to be between INR10,000-13,000 crore, and analysts believe the share buyback could amount to around INR5,000 crore. Wipro has undergone four share buyback programmes since 2016 through tender offers, with the most recent being last year, buying shares worth INR9,500 crore. Due to slower revenue conversion and weakness in consulting, Wipro is predicted to report 0.6%-1% QoQ revenue growth in constant currency terms.
