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Wipro down on founder's plan to sell stake
On our show Tips for Tomorrow, Ashutosh Sinha, Vivek Mahajan, Head- Research at Aditya Birla Money and Rajesh Baheti, MD at Crosseas Capital Services, discuss the market performance of the day.
13 Mar 2012, 11:38 AM IST 
Shinzo Nakanishi, Managing Director, Maruti Suzuki India
Shares in Wipro 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 per cent stake in the company, on the stock market via a new auction process.
"This will definitely increase the number of shares available for trade in the market," said an institutional sales person.
At 10:47 a.m., shares of Wipro were down 1.40 per cent at Rs 431.60.
Copyright @ Thomson Reuters 2012