Even a Rs 15,000-crore buyback fails to cheer Wipro investors

Mumbai: Wipro led the losers on the Nifty on Friday, coming under selling pressure after its March-quarter earnings missed expectations, with even a ₹15,000 crore buyback failing to lift sentiment. The IT major had announced the buyback at a 19% premium to its previous closing price of ₹210 on Thursday. But the move did little to enthuse investors, with the stock falling as much as 4% earlier in the day. It ended at ₹204.30, down 2.8%. Brokerages said that the effective benefit of the share buyb...