The company announced this during the market hours today, 12 January 2009.
Meanwhile, the BSE Sensex was down 193.01 points, or 2.09%, to 9,209.68.
On BSE, 4.77 lakh shares were traded in the counter. The stock had an average daily volume of 3.36 lakh shares in the past one quarter.
The stock hit a high of Rs 248 and a low of Rs 220 so far during the day. The stock hit a 52-week high of Rs 537.90 on 6 June 2008 and a 52-week low of Rs 181.70 on 27 October 2008.
The stock had outperformed the market over the past one month till 9 January 2009, gaining 5.18% as compared to the Sensex's return of 2.66%. It had also outperformed the market in the past one quarter, declining 11.23% as compared to the Sensex's decline of 16.97%.
India's third largest software exporter by sales, Wipro's current equity is Rs 292.74 crore. Face value per share is Rs 2.
The current price of Rs 226.40 discounts the company's Q2 September 2008 annualized EPS of Rs 23.31, by a PE multiple of 9.71.
The company in a release to exchanges said it had offered a commonly utilised and Securities and Exchange Commission (SEC)-approved direct share programme (DSP) in 2000 that allowed employees and clients to purchase American Depository Shares at the IPO market price. Under the programme, Wipro representatives offered the World Bank, through its chief information officer and a senior staff, participation in the programme and they directed this offer to members of their family and friends, Wipro said.
The aggregate number of shares purchased by them was 1,750 for approximately $72,000 at the IPO price, it said. All participants in the programme signed a conflict of interest statement that their purchase did not violate any ethics or conflict of interest of their company.
The programme's objective was to involve employees and customers with the public offering to expand the company's recognition and brand, Wipro said
Wipro said its revenues from World Bank were insignificant and the decision would not affect its business and results. It said the announcement was being made now under revised disclosure policies.
Meanwhile, in a separate announcement, the World Bank today it had had barred IT company Satyam Computer Services for eight years and Wipro Technologies for four years for "improper benefits to bank staff". It made the announcement while announcing that it plans to publish the names of all companies it bars from receiving Bank contracts on a regular basis.
The World Bank said it also barred Mefasoft Consultants for four years in December 2007 for "participating in a joint venture with Bank staff while conducting business with the Bank"
Wipro will announce the Q3 December 2008 result on 21 January 2009.
Wipro's net profit rose 56.13% to Rs 852.50 crore on a 14.88% rise in sales to Rs 5405 crore in Q2 September 2008 over Q1 June 2008.
Wipro provides comprehensive range of information technology (IT) services, software solutions, IT consulting, business process outsourcing and research & development services in the areas of hardware and software design to leading companies worldwide.
Meanwhile, the BSE Sensex was down 193.01 points, or 2.09%, to 9,209.68.
On BSE, 4.77 lakh shares were traded in the counter. The stock had an average daily volume of 3.36 lakh shares in the past one quarter.
The stock hit a high of Rs 248 and a low of Rs 220 so far during the day. The stock hit a 52-week high of Rs 537.90 on 6 June 2008 and a 52-week low of Rs 181.70 on 27 October 2008.
The stock had outperformed the market over the past one month till 9 January 2009, gaining 5.18% as compared to the Sensex's return of 2.66%. It had also outperformed the market in the past one quarter, declining 11.23% as compared to the Sensex's decline of 16.97%.
India's third largest software exporter by sales, Wipro's current equity is Rs 292.74 crore. Face value per share is Rs 2.
The current price of Rs 226.40 discounts the company's Q2 September 2008 annualized EPS of Rs 23.31, by a PE multiple of 9.71.
The company in a release to exchanges said it had offered a commonly utilised and Securities and Exchange Commission (SEC)-approved direct share programme (DSP) in 2000 that allowed employees and clients to purchase American Depository Shares at the IPO market price. Under the programme, Wipro representatives offered the World Bank, through its chief information officer and a senior staff, participation in the programme and they directed this offer to members of their family and friends, Wipro said.
The aggregate number of shares purchased by them was 1,750 for approximately $72,000 at the IPO price, it said. All participants in the programme signed a conflict of interest statement that their purchase did not violate any ethics or conflict of interest of their company.
The programme's objective was to involve employees and customers with the public offering to expand the company's recognition and brand, Wipro said
Wipro said its revenues from World Bank were insignificant and the decision would not affect its business and results. It said the announcement was being made now under revised disclosure policies.
Meanwhile, in a separate announcement, the World Bank today it had had barred IT company Satyam Computer Services for eight years and Wipro Technologies for four years for "improper benefits to bank staff". It made the announcement while announcing that it plans to publish the names of all companies it bars from receiving Bank contracts on a regular basis.
The World Bank said it also barred Mefasoft Consultants for four years in December 2007 for "participating in a joint venture with Bank staff while conducting business with the Bank"
Wipro will announce the Q3 December 2008 result on 21 January 2009.
Wipro's net profit rose 56.13% to Rs 852.50 crore on a 14.88% rise in sales to Rs 5405 crore in Q2 September 2008 over Q1 June 2008.
Wipro provides comprehensive range of information technology (IT) services, software solutions, IT consulting, business process outsourcing and research & development services in the areas of hardware and software design to leading companies worldwide.
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