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Wipro shares plummet on founder's plan to sell stake
At 10:47 am, shares of Wipro were down 1.40 percent at 431.60 rupees.
Shares in Wipro Ltd fell after the company said that a trust controlled by its billionaire founder Azim Premji plans to sell up to 35 million shares, or around 1.4 percent stake in the company, on the stock market via a new auction process.
[caption id="attachment_242138" align="alignleft" width="380" caption="Reuters"]
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"This will definitely increase the number of shares available for trade in the market," said an institutional sales person.
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At 10:47 am, shares of Wipro were down 1.40 percent at 431.60 rupees.
Reuters
First Published:Mar 13, 2012, 12:31:34 IST
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