Wipro slips after IT firm denies ex-LTI CEO Sanjay Jalona is joining it in senior role
The company's stock was creating a lot of buzz on Friday when speculations were making rounds that Jalona, a former managing director and chief executive officer of Larsen & Toubro India, was joining the IT giant.
)
Wipro Share Price: In the first trading session after hitting the 52-week-high on Friday, Wipro shares started their journey on a lower note on BSE on Tuesday (December 26, 2023) post the company's denial that Sanjay Jalona (ex MD and CEO, LTI) would join the IT firm.
The Wipro stock was trading lower by 1.66 per cent, or Rs 7.70, or Rs 455.00, at 9:49 am on Tuesday.
After closing at Rs 462.70 on Friday, the share opned at Rs 453 on Tuesday and rose to the day's high of Rs 460.
The company's stock was creating a lot of buzz on Friday when speculations were making rounds that Jalona, a former managing director and chief executive officer was joinig the IT giant.
The tenure of Wipro's current CEO, Thierry Delaporte, officially ends in 2025.
He has reportedly been under pressure for falling margins, middling growth, and a raft of top-level exits.
Speculations were rife that Jalona would replace Delaporte.
While Wipro refuted the rumours, Jalona also said that he wouldn't join the IT company.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
10:13 AM IST
Should you buy, hold or sell Wipro shares after it announces acquisition of Applied Value Technologies? Here's what global brokerages suggest
Wipro shares trade ex-bonus; here is what it means for investors
TCS, Infosys, Mphasis fall up to 4%: Good time to buy IT stocks?
FINAL TRADE: Nifty ends above 24,850. Sensex gains 218 points; Axis Bank settles 6% higher