If approved, this would be Wipro’s first buyback in three years. The company last undertook a similar exercise in 2023, when it bought back shares worth around Rs 12,000 crore.
Details such as the buyback size, pricing, and route have not yet been disclosed.
However, the move points to a potential capital allocation step at a time when sentiment around IT stocks remains volatile, even as valuations have corrected.
IT stocks, including Wipro, have come under pressure in recent months amid an AI-driven downturn that has wiped out billions of dollars in market capitalisation.
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Earlier, management had indicated a cautious but stable near-term outlook. For the March 2026 quarter, Wipro guided IT services revenue in the range of $2.64 billion to $2.69 billion, implying flat to 2% sequential growth in constant currency terms.
At the same time, the company is reshaping its strategy in response to the growing importance of AI. CEO Srini Pallia said artificial intelligence is becoming a key differentiator, highlighting increased adoption of AI-led platforms, scaling of delivery through internal frameworks, and expansion of Wipro’s global innovation network.For the fourth quarter, management expects some margin pressure due to the Harman DTS acquisition, along with growth investments, deal mix, and possible wage hikes. Despite this, it remains confident of maintaining operating margins in the 17% to 17.5% range.
Analyst sentiment has remained cautious in recent months. Elara Capital, for instance, has a sell rating on the stock after revising its revenue estimates by 2% to 4% for FY27–FY28E to factor in the Harman DTS integration. The brokerage noted that stronger-than-expected revenue growth and margin expansion remain key upside risks.
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