Wipro’s ADR (WIT) is higher today as markets digest the company’s newly approved share buyback plan, which authorizes repurchasing up to 600 million equity shares (about 5.7% of paid-up equity) via a tender offer at ₹250 per share for an aggregate amount up to ₹150 billion (about $1.6 billion). That buyback headline is acting as a near-term catalyst because it signals aggressive capital return and can create a valuation “floor” around the tender price expectations, even for investors who won’t ultimately tender shares.

The buyback was approved by Wipro’s board and is subject to shareholder approval through a postal ballot, with the tender-offer structure setting a fixed repurchase price in local shares. Management also reiterated near-term IT Services revenue guidance for the next quarter in a defined range, which has been characterized as mixed by market commentary; as a result, the price action looks driven more by capital allocation than by an acceleration in demand.

Next catalysts are the formal shareholder-approval process, publication of the buyback timetable (record date, tender window, and settlement dates), and any additional detail on participation/acceptance dynamics. Investors will also watch whether follow-through updates on large strategic engagements—particularly the multi-year transformation work tied to Olam Group and the related Mindsprint transaction—translate into clearer revenue re-acceleration beyond the buyback-driven bounce.