Wipro Shares Surge 4.5% on Artificial Intelligence Partnership: Should Investors Reconsider IT Sector Stocks?

Wipro Shares Surge 4.67% on Expanded Partnership with ServiceNow

Wipro's stock price rose by as much as 4.6 percent on Friday, following the IT services company's announcement of an expanded partnership with US-based software provider ServiceNow. The partnership aims to deploy agentic AI workflows across key enterprise functions, including IT, HR, procurement, and cybersecurity.

Under the expanded partnership, Wipro will integrate its unified suite of AI-powered platforms, solutions, and offerings, Wipro Intelligence, with the ServiceNow AI Platform. This integration is expected to help organisations streamline the initiation, orchestration, and execution of work across enterprise systems. The partnership is expected to enable enterprises to implement agentic AI at scale and deliver policy-aligned actions aimed at improving employee experience, operational agility, and business outcomes.

Wipro's stock climbed to Rs 211 per share on the NSE during the day's trade, with investors buying the share following the announcement. Market analysts noted that the stock is showing signs of recovery after a prolonged correction, though a sustained uptrend would require further confirmation.

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According to a report by Bonanza, Wipro is showing signs of base formation near the long-term support zone around 200-202 after a prolonged corrective phase. The stock has recently bounced from lower levels with improving momentum, while the Relative Strength Index (RSI) has moved above 55, indicating gradual strength recovery on the daily chart. However, the price still trades below major long-term moving averages, suggesting that confirmation of a sustained uptrend is yet to emerge.

The partnership comes at a time when Indian IT companies are strengthening their artificial intelligence capabilities amid rising investor concerns that AI-led disruption could affect traditional outsourcing and technology services businesses. The sector has remained under pressure following rapid advances in generative AI and the growing push by companies such as OpenAI into enterprise services, raising concerns over long-term demand for conventional IT projects.