Wipro Share Price Surges Over 4% Following Artificial Intelligence Partnership Announcement

Wipro Share Price Jumps Over 4% on Partnership Expansion with ServiceNow

Wipro's share price surged over 4% in early trade on Friday, following an overnight rally in its American Depositary Receipt (ADR) after the IT major announced an expansion of its partnership with US-based software provider ServiceNow. Wipro's shares gained as much as 4.76% to ₹211.20 apiece on the BSE.

The rally in Wipro's share price comes after the company announced its partnership with ServiceNow 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 its unified suite of AI-powered platforms, solutions, and transformative offerings, Wipro Intelligence, with the ServiceNow AI Platform.

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In the US market, Wipro's American Depositary Receipt (ADR) surged more than 18% on Thursday, rallying 18.54% to $2.43 on NYSE. During the session, Wipro ADR spiked over 21% to an intraday high of $2.49.

Meanwhile, in the Indian stock market, Wipro's share price resumed its upward trend after two days of losses. The largecap IT stock rose for eight straight sessions till May 25.

Wipro's partnership expansion with ServiceNow is expected to drive growth in the company's core enterprise functions. The IT major's board of directors had approved a share buyback proposal worth ₹15,000 crore on April 16, which has also fueled a rally in the stock price. Wipro will repurchase up to 60 crore equity shares, representing more than 5% of its equity, at ₹250 per share. The buyback record date has been fixed as June 5.