told CNBC-TV18, "The Wipro demerger is announced and the management has given three options to the shareholders. First is, to convert the Wipro Ltd. shares into Wipro Enterprises which would be an unlisted entity. Second option is to go for 7 percent redeemable points and third option is to convert back these shares into the Wipro Ltd."
He further added, "I expect most of the people would opt the third option and we are also recommending most of the clients to opt third option given that most of the investors are betting on the IT business. Third option gives them an opportunity to play the core business which is IT. Even on the American Depository Receipts (ADR) front the ADR holders have an option to convert these shares back into ADR Wipro Ltd. So on an overall basis you may see the stock having some positive demand after the demerger also and as we are speaking that tomorrow is the ex-date of the demerger and followed by that the Futures contract would get expired today."
"Broadly most of the contracts have got reduced in the last expiry and we have left with small positions into the Wipro Futures. So you may see positive bias in the counter in the last half an hour trading session of Wipro today, but given that the open interest is quite low left we may not see a sharp rally in the counter today, but post demerger the interest among the investors would be in the counter and we may see upward movement in the counter."
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