Wipro

In a significant move, Wipro's promoter group, through its Azim Premji Trust, sold 18.05 crore shares—amounting to a 1.72% stake—in an open market transaction valued at Rs 4,674.77 crore. Despite the sizable sale, Wipro’s shares appreciated by over 1.6% on both the BSE and NSE, indicating investor confidence. The shares were sold at an average price of Rs 258.99 each, with Prazim Traders and Zash Trader, both part of the promoter group, purchasing the sold shares.

In a significant move to bolster its regional footprint, Indian IT services giant Wipro has announced the relocation of its Middle East regional headquarters from Al Khobar to Riyadh, Saudi Arabia. The company, renowned for its global technology services, has simultaneously appointed Mohamed Mousa as the Managing Director for the Middle East region. This relocation reflects Wipro’s commitment to expanding its presence in the Saudi market and aligning with the Kingdom’s Vision 2030 agenda, which emphasizes economic diversification and digital transformation.

Wipro Enterprises has permanently shut down one of its manufacturing units in Baddi, Himachal Pradesh, following a prolonged labor dispute that began in December 2024. The closure, which affects 80 employees, stems from sustained financial losses and repeated operational disruptions. While the company maintains that it followed all regulatory requirements and acted with integrity, employee unions have challenged the manner in which the shutdown was executed.

Wipro’s latest financial disclosures reveal a significant surge in executive compensation amid a sharp recovery in profitability during fiscal year 2024–25. CEO Srinivas Pallia, who took the helm in April 2024, received a total remuneration of USD 6.2 million (Rs. 53.64 crore), underscoring a new compensation structure following the exit of former CEO Thierry Delaporte. Meanwhile, Executive Chairman Rishad Premji’s salary more than doubled to USD 1.6 million (Rs. 13.7 crore), reflecting improved company performance. The annual report, filed with the U.S.

Indian equity markets faced early losses on Thursday, with the Sensex and Nifty retreating from recent highs amid concerns surrounding the performance outlook of major IT firms. Wipro, despite posting a solid year-on-year rise in net profit, issued a cautious forecast for the upcoming quarter, citing persistent global uncertainties. This sentiment rippled through the broader tech sector, leading to notable declines in IT-heavy stocks and dragging the overall indices down.