Wipro has announced a share buyback program worth Rs 15,000 crore, offering shares at a price that carries a 19% premium to the prevailing market rate. The move marks the company's first buyback in more than five years, signaling a deliberate return of capital to shareholders after an extended pause. Buybacks at a premium reduce shares outstanding, which mechanically lifts earnings per share and signals management confidence in the stock's intrinsic value relative to its traded price. For investors, the 19% premium creates an immediate arbitrage incentive to tender shares, while the scale of Rs 15,000 crore positions this as a material capital allocation event for an Indian IT major. The key variables to monitor include the buyback's acceptance ratio, the tender window timeline, and whether the announcement shifts near-term sentiment around Wipro's cash deployment strategy relative to peers such as Infosys and TCS.
HDFC Bank's board has approved Rajiv Kumar, former Chief Election Commissioner and financial services secretary, as its Part-time Non-Executive Chairman from June 30, 2026. His chairmanship still requires RBI approval, but the move ends the bank's prolonged search for a permanent board leader.
Indian startups raised $1.1 billion across 16 deals in the week of June 21-26, 2026, up 2.5 times from the prior week, with CRED's $900 million Series H led by Meta accounting for most of the total. Square Yards became India's 131st unicorn after closing a $95 million round.
Jet fuel costs dropped sharply after a US-Iran interim peace deal, but airlines are expected to use the savings to rebuild margins rather than cut fares. Tight capacity, aircraft delivery delays, and weak budget carriers give major carriers unusual pricing power heading into the second half of 2026.
Meta is investing $900 million in CRED at a $4.5 billion valuation, the largest Indian startup round of 2026, as founder Kunal Shah moves to a global leadership role at WhatsApp. Miten Sampat takes over as interim CEO, and a major employee stock buyback is expected within weeks.
