Wipro shares plunge 6%: The reality behind the drop on buyback record date explained

Wipro share price is down nearly 6% intra-day. However, investors should not be very worried. The IT major is trading adjusted for its Rs 15,000 crore share buyback, making June 5 an important date for shareholders tracking the stock.

Investors must remember this is not a sell-off triggered by weak earnings, a business setback, or a brokerage downgrade. Instead, the decline was linked to a corporate action – the buyback.

Let’s take a look at the key factors investors need to watch out of this technology sector stock–