Societe Generale buys 48 lakh Wipro shares for ₹186 cr via block deal

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French-based financial services company, Societe Generale picked up 48 lakh equity shares in IT giant Wipro for 185.76 crore in a block deal on Tuesday. On the other hand, BNP Paribas Arbitrage offloaded a portion of its stake in the company. Wipro shares witnessed a flattish performance on stock exchanges. 

As per the block deal data on BSE, Societe Generale purchased a total of 48 lakh equity shares at a price of 387 per share aggregating to 185.76 crore. 

At the same time, in the block deal, BNP Paribas Arbitrage sold a similar 48 lakh equity shares in the company at 387 per share.

On BSE, Wipro shares closed at 388.85 apiece flat compared to the previous closing. The shares had touched an intraday high and low of 389.15 apiece and 384.75 apiece during the trading hours. Its current market cap is over 2.13 lakh crore.

Wipro’s earnings per share (EPS) is currently at 22.68, as per BSE.

In another development, Wipro launched a strategic cybersecurity consulting offering in Europe. The announcement comes on the heels of a series of acquisitions in the consulting space—Edgile, Capco, and Ampion— and is part of the firm’s vision to build a global cybersecurity consulting offering to help clients stay ahead of a dynamic threat and regulatory environment.

As per the regulatory filing, under this new offering, Wipro consultants located in Europe will work with clients to build tailored strategies and solutions that address the unique challenges in this market. Leveraging Wipro’s extensive global network of more than 9000 cybersecurists, Wipro CRS Europe will help clients realize enhanced scale and speed in implementations.

During Q2FY23, Wipro registered a 9.27% yoy in consolidated net profit to 2,659 crore, while consolidated revenue grew by 14.6% yoy to 22,540 crore. The IT services operating margin for the quarter under review came in at 15.1%, an increase of 16 bps QoQ.

Wipro is a leading technology services and consulting company focused on building innovative solutions that address clients’ most complex digital transformation needs. The company has over 2.50 lakh employees and business partners across 66 countries.

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