Santosh Meena, Head of Research at Swastika Investmart, said that while Wipro has been experiencing underperformance, which raises concerns about its future performance, there is limited downside risk at around the 375 level. Considering the current market conditions, retail investors could consider participating in the upcoming buyback program because the floor price for the buyback is set higher than the current market price, offering a potential arbitrage opportunity and the chance for profit. “However, it is advisable for investors to explore other IT companies for better returns after the completion of the buyback,” added Meena.Read more:
