Wipro shares jump 5%, stock trades ex-bonus

Shares of IT major climbed nearly 5% in early trade today as the stock turned ex-bonus today, meaning the stock was adjusted for bonus issue. In January, Wipro had approved the issuance of bonus equity shares in the proportion of 1:3, that is one bonus equity share of for every three fully paid-up equity shares held as on the record date. At day’s high, shares jumped to ₹285.9 on NSE.

Wipro later fixed March 7, 2019 as the record date to determine eligible shareholders entitled to receive the bonus equity shares.

The bonus equity shares will be issued out of free reserves and/or the securities premium account or the capital redemption reserve and/or the capital redemption reserve account of the company available as at December 31, 2018.