#Wipro shares traded ex-date on Tuesday following the company's 1:1 bonus issue announcement. The IT giant had set December 3 as the record date for the corporate action.

Under a 1:1 bonus issue, shareholders receive one additional equity share for every share held in the company.

On Monday, Wipro's share price closed 1.16 percent higher at Rs 584.55 on the NSE. However, during Tuesday's trading session, the stock was quoted at Rs 291.90, down 0.12 percent.

The halving of the share price reflects the adjustment made due to the bonus issue. A bonus issue increases the total number of outstanding shares, leading to a proportional reduction in the stock price while keeping the overall investment value unchanged. This is the first instance of Wipro issuing bonus shares after 2019 when the company issued one bonus share for every three shares held by its shareholders.