Wipro share price target ahead of buyback meet on Apr 16; Check history, estimated size

Shares of Wipro Ltd dropped more than 2 per cent, extending its losses, during the trading session on Monday ahead of its board meeting on Thursday, April 16 to consider buyback of its equity shares. If approved it will be Wipro's first buyback after a three years gap.

The Ajim Premji-founded information technology services major will also announce its results for the quarter and financial year ended on Marc 31, 2026 on the same day. The buyback of Wipro shares is largely on the expected line with brokerage firm Investec estimating a Rs 16,000 crore buyback, while Morgan Stanley valuing the issue around Rs 18,000 crore for the IT player.

Wipro's current cash balance stands at Rs 41,510 crore, as of end for the quarter ended on December 31, 2025. It was highest among top 5 IT companies including HCL Technologies Ltd, Infosys, Tech Mahindra Ltd and Tata Consultancy Services Ltd (TCS). Wipro is committed to distribute more than 70 per cent of its net income for FY 26-28.

Wipro Buyback history

Prior to this, Wipro's last buyback was in April 2023, with an issue size of Rs 12,000 crore at a price of Rs 223 apeice, giving a premium of 18 per cent for investors. It bought back 4.91 per cent of its equity. Before that, it bought back its 4.16 per cent equity at Rs 200 apiece, at a premium of 19 per cent, in October 2020. Its buyback was valued at Rs 9,500 crore.

Before that, Wipro repurchased its 5.35 per cent shares at Rs 163 apiece, at a premium of 16 per cent, aggregating to Rs 10,500 crore. Its last three buyback's have been in 23-30 per cent of its cash deployment as of the close of previous quarter.

Morgan Stanley views:

Buyback is largely anticipated, but timing uncertainty could drive near-term positive reaction. Past buybacks saw the stock outperform in the most post announcement. Near-term sentiment is positive but focus is likely to shift back to weak FY27 revenue growth outlook, said Morgan Stanley, which has an 'underweight' rating on the stock with a target price of Rs 242.

Q4 expectations and price targets

HDFC Securities is expecting Wipro's sales at Rs 2,447.1 crore in March 2026 quarter, up 8.7 per cent YoY and 3.9 per cent QoQ. Ebit is seen at Rs 631 crore, up 16 per cent Yo and flat sequentially with margins coming in at 18.3 per cent for the quarter. Adjusted pat is seen at Rs 352.8 crore, up 12.6 per cent YoY. It has an 'add' rating with a target price of Rs 225.

Wipro has secured a large 8-year strategic transformation deal with Olam Group. The contract is expected to exceed $1 billion in total value, including a committed spend of $800 million. This deal will strengthen Wipro’s farm-to-fork capabilities, scaling the impact of Wipro Intelligence across the food and agri-business industry, said Emkay Global Financial Services.

Pending deal closure, we have not yet factored the current acquisition (likely to contribute 1.3 per cent to Wipro’s revenue) in our earnings estimates," it added with a 'reduce' rating and a target price of Rs 210 on the stock.