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Wipro buyback disappoints Dalal Street

Updated : October 15, 2020 12:07 PM IST

IT services stocks got a reality check after Wipro's mildly positive results and an underwhelming buyback has prompted some brokerages to maintain their ‘underperform’ rating on the stock, citing high valuations.

There are two reasons – one, the size of the buyback was much lower than what the street was expecting, and two, the pricing was slightly below the Rs 425 what the street was expecting. CNBC-TV18’s Nimesh Shah explains the buyback math.

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