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Wipro, a leading global technology services and consulting company, has announced a bonus share issue at a ratio of 1:1. This means for every share held by an investor, they will receive an additional share. The company also reported adding 978 new employees to its workforce during the September quarter. This news was reported in an article published by ETPrime, a subscription-based financial news platform. However, the full details of the article are not accessible without a subscription.
The bonus share issue is likely a strategy by Wipro to reward its shareholders and potentially increase liquidity in the market. Issuing bonus shares can be a way for companies to distribute profits without impacting their cash reserves. The addition of new employees, on the other hand, suggests Wipro is experiencing growth and expanding its operations. This could be due to increased demand for its services, a strategy to enter new markets, or both.
While the information about Wipro's bonus shares and employee additions is limited due to the paywalled nature of the ETPrime article, it provides a glimpse into the company's recent activities. To gain a deeper understanding of the company's performance, market trends, and future prospects, it would be necessary to access the full article and further research on Wipro's business activities.
Source: Wipro issues bonus shares at 1:1; adds 978 headcount in September quarter