Wipro ADR Sees 18% Increase on NYSE Following AI Partnership with ServiceNow
Wipro Shares Surge Over 18% on Wall Street Following Expanded Partnership with ServiceNow
On Thursday, May 28, the US-listed shares of Wipro experienced a significant surge, increasing by over 18% in Wall Street trading. The company's American Depositary Receipt (ADR) jumped 18.54% to $2.430 on the New York Stock Exchange (NYSE). During the session, Wipro ADR price surged over 21% to an intraday high of $2.490.
The rally in Wipro ADR was triggered by the IT major's announcement of an expanded partnership with ServiceNow. This partnership aims to implement and scale the impact of agentic AI workflows across core enterprise functions such as IT, HR, procurement, and cybersecurity. Under this expanded partnership, Wipro will integrate Wipro Intelligence, its unified suite of AI-powered platforms, solutions, and transformative offerings, with the ServiceNow AI Platform. This integration will enable organizations to streamline the initiation, orchestration, and execution of work across enterprise systems.
| Company | ADR Price (May 28) | Percentage Increase |
|---|---|---|
| Wipro | $2.430 | 18.54% |
| $2.490 (intraday high) | 21.04% |
Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data
This strategic partnership is expected to have a positive impact on Wipro's business, and the surge in its ADR price reflects the market's optimism towards the company's future prospects.
Investor Takeaway
Investors should consider the potential benefits of Wipro's expanded partnership with ServiceNow in the AI space.
More in Market
Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data
US-Iran Tensions Spark Uptick in Oil Prices Amid Global Market Decline
Indian Stocks to Watch: BHEL, Agarwal Industrial, JBM Auto, Rajesh Exports, Indian Energy Exchange, Lenskart Solutions in Market Focus on June 4.
