Latest news with #AzimPremjiTrust
Time of India
4 hours ago
- Business
- Time of India
Azim Premji Trust sells 20.2 crore shares worth Rs 5057 crore
BENGALURU: Azim Premji Trust sold 20.23 crore shares worth Rs 5,057 crore in a block deal on Monday, NSE data showed. The block deal averaged Rs 250 per share, with Azim Premji Trust selling shares to Hasham Traders, Prazim Traders, and Prazim Trading and Investment Company. Tired of too many ads? go ad free now These shares, equal to a 1.9% stake, were transferred between promoter group entities via open market transactions on Monday, as per exchange data. shares closed up 1% at Rs 251.3 on the BSE and 1.2% higher at Rs 251.7 on the NSE. Prazim Traders acquired 5.9 crore shares, while Hasham Traders purchased 11.9 crore shares, and Prazim Trading and Investment Company secured 2.38 crore shares, each priced at Rs 250. During November last year, Prazim Trading and Investment Company, affiliated with Premji Invest, acquired 8.4 crore Wipro shares, representing a 1.6% stake, valued at Rs 4,757 crore, while Prazim and Zash Traders divested an identical quantity of shares. In the recent earnings, Wipro's muted performance was amplified due to ongoing market uncertainties as customers adopted a cautious approach despite a pent-up demand for transformation projects. Wipro revenue declined for the second consecutive year to 2.3% in constant currency in the 2024-25 financial year compared to a sharper drop of 4.4% in the year-ago period. In the March quarter, Wipro's revenue dropped 1.2% in constant currency compared to the same period last year. Sequentially, its revenue dipped 0.8%.
Time of India
13 hours ago
- Business
- Time of India
Wipro block deal: Azim Premji Trust sells over 20 crore shares worth Rs 5,057 crore
Wipro 's promoter entity Azim Premji Trust on Monday sold 20.23 crore shares worth Rs 5,057 crore in the company via a block deal. The buyers were Hasham Traders and Prazim Traders who bought 11.90 crore shares and 5.95 crore shares in the, respectively. Azim Premji Trust held 1,06,31,85,966 equity shares in the company which represented 10.15% stake as on March 31, 2025. The shares were bought at Rs 250 a piece, which was at a 0.60% premium over Friday's closing price of Rs 248.59. Hasham Traders stake buy was at a cost of Rs 2,975 crore while Prazim Traders shelled out at Rs 1,487 crore. Wipro shares today ended at Rs 251.72 on the NSE, up by Rs 3.13 or 1.26% over the Friday closing price. The fourth largest IT services company by way of market capitalization had reported a net profit (attributable to shareholders of the company) of Rs 3,570 crore for the fourth quarter ended March 2025, up 26% from Rs 2,835 crore in the year-ago period. The profit beat Street expectations of Rs 3,290 crore. Revenue from operations in the quarter rose 1% year-on-year (YoY) to Rs 22,504 crore, compared to Rs 22,208 crore in the same period last year. The IT services segment revenue stood at $2,596.5 million in the fourth quarter, reflecting a decline of 1.2% quarter-on-quarter (QoQ) and 2.3% year-on-year (YoY). In constant currency terms, IT services revenue decreased 0.8% QoQ and 1.2% YoY. On a sequential basis, revenue increased by a marginal 0.8%. The profit after tax grew 6% QoQ from Rs 3,354 crore posted in the preceding December quarter. In the fourth quarter, the company reported operating cash flows of Rs 3,750 crore ($438.5 million), marking a 28.2% YoY decline. This represented 104.4% of net income for the quarter.
Mint
14 hours ago
- Business
- Mint
Wipro Block Deal: Azim Premji Trust sells 20.23 crore equity shares worth over ₹5,057 crore — Check details
Wipro Block Deal: Azim Premji Trust sold 20.23 crore equity shares worth over ₹ 5,057 crore through a block deal on Monday, 9 June 2025, according to the official NSE data. Deal details showed that the average selling cost of the block deal was ₹ 250 per share, at which Azim Premji Trust sold the block quantity of shares to three entities, namely Hasham Traders, Prazim Traders, and Prazim Trading and Investment Company Pvt Ltd. On Monday, Hasham Traders purchased 11.9 crore equity shares, while Prazim Traders bought 5.95 crore equity shares, and Prazim Trading and Investment Company Pvt Ltd picked up 2.38 crore equity shares, all at an average execution price of ₹ 250 apiece. (This is a developing story. Please check back for updates.)
