Shares of Wipro declined 3.96 per cent to close at Rs 273.90 on the BSE.
India's third largest software services company Wipro on Thursday announced that the board of directors has approved a proposal to buyback shares worth Rs 11,000 crore at a price of Rs 320 per share.
New Delhi: IT stocks, led by Wipro, on Monday fell by as much as 4 per cent as the Indian rupee further strengthened its value against the US dollar.
The rupee has gained nearly 35 paise in the last three trading sessions.
Shares of Wipro declined 3.96 per cent to close at Rs 273.90 on the BSE.
The stock was the worst hit among the 30-Sensex components.
Infosys fell by 1.13 per cent, Hexaware Technologies 0.77 per cent, Tech Mahindra 0.68 per cent and TCS 0.12 per cent.
The BSE IT index lost 0.68 per cent to end at 12,092.47.
A weaker rupee is largely seen as positive for export-focussed sectors.
( Source : PTI )
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