Wipro shares in focus as stock trades ex-bonus today
Wipro, which have given returns of over 30% in the last six months alone, are likely to remain in focus on Tuesday as the stock begins trading on ex-bonus basis from today.
The IT major had announced a bonus share issue in the ratio of 1:1, fixing December 3 as the record date for determining shareholder eligibility.
A 1:1 bonus issue means that a company will issue one additional share for every share that an investor already owns. However, the total value of your investment remains the same, as the stock price is typically adjusted proportionally to account for the increased number of shares in circulation.
The IT major has previously issued 6 bonuses since June 25 this year, according to data available on Trendlyne.
“Recommended to the shareholders for their approval, through postal ballot, issue of bonus equity shares in the proportion of 1 :1, i.e., one bonus equity share of Rs 2/- each for every one fully paid-up equity share held and a bonus issue,” the company had said in its filing in October.
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