๐ Wipro Share Price: A Rollercoaster Ride
๐ผ Resignation of Wipro’s Chief Growth Officer Stephanie Trottman led to a 1% drop in the company’s share price on Monday.
๐น However, there has been a slight recovery in the share price due to some progress in the company’s business. On Monday, Wipro’s share was trading at Rs. 420.35, with a 0.39% decrease. On Tuesday, December 12, 2023, the share closed at Rs. 422.00, showing a 0.33% decrease. On Wednesday, December 13, 2023, the share was trading at Rs. 415, with a 1.69% drop.
๐ The year 2023 has seen nine top-ranking officials of Wipro resign from their positions. Stephanie Trottman, the Chief Growth Officer, has resigned, leaving behind a team managing major deals. Two months ago, the Chief Financial Officer, Jatil Dalal, also resigned and left the company. In total, nine senior executives have resigned from their positions in 2023.
โ ๏ธ These resignations at the senior management level have raised concerns among the company’s investors. After the resignation of the CGO, brokerage firm Morgan Stanley lowered Wipro’s rating. According to Morgan Stanley, in the coming days, Wipro’s share price may drop to Rs. 370.
๐ฐ On April 17, 2023, the company’s shares were trading at Rs. 351.85, their annual low. However, in the past five months, Wipro’s shares have given investors a return of over 26%. Currently, Wipro’s share price is 5% below its all-time high.
๐ฐ News Title: Wipro Share Price 13 December 2023
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