New Delhi, April 17 -- Wipro Ltd's share repurchase worth Rs.15,000 crore - its largest - failed to cheer investors a day after its announcement as underlying weakness in its business clouded optimism about the buyback.

Shares of the country's fourth-largest IT services company fell 2.78% to Rs.204.35 at the close on the BSE on Friday, off the day's low of Rs.202.60. Much of the concern stemmed from a third straight year of revenue decline. Still, the company announced a buyback of 600 million shares at Rs.250 apiece.

Wipro's annual revenue has shrunk by $756 million from a peak of $11.23 billion in FY23. The decline would have been worse without the $130 million in revenue from three acquired companies.

The revenue that Wipro lost in ...