Following TCS’ lead, Wipro announces plans to buyback shares

• Indian IT services giant Wipro is following Tata Consultancy Services (TCS) with its own buyback plans.
  
• In its second quarter earnings, TCS announced today that it will be buying back equity shares worth ₹16,000 at ₹3,000 per share.
  

Wipro is following Tata Consultancy Services’ (TCS) lead by announcing its own share buyback plans. The board of directors will consider the proposal during the meeting set to occur between October 12 and 13.

“The outcome of the board meeting will be communicated to the stock exchanges soon after conclusion of the board meeting on October 13, 2020,” the company said in its filing with the stock exchange.