WIPRO Bonus Shares 2010

In a statement released today, Wipro technologies said that they were partnering with Microsoft Corporation to provide global Legal Process Outscoring and perhaps it was the reason that company’s shares witnessed a rise in Stock Exchange. They also made an important announcement about their shares and this announcement was made after the meeting of Board of Directors. In their meeting, the Board of Directors decided that they will give bonus to their Share Holders at 2:3 ratio by the end of this year 2010. Company is doing a fine business and they are raising high and high and the proof is their net growth and net profit. Company garnered a net profit of Rs. 1,209 Crores in this quarter. The company is growing with a percentage of 20.77.

The final decision about the bonus shares will be made after annual general meeting in the month of July this year. The company wants to take opinion of shareholders as well so, they have decided to wait until July when the share holders will attend annual general meeting. Wipro chairman, Azim Premji, alone holds about 80% of company shares and for that reason he is the sole power in this company.

This is for the first time since 2005 that the company has decided to issue bonus hares for shareholders. Last time, they issued bonus shares in 2005 with ratio 1:2. The main reason for this is Company’s IT products which grew by 2% this year. Last day, company ended its business in stock exchange with a 2% increase.

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