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By Dalal Street Investment Journal (DSIJ)
Wipro shares gained 4.6% after the company expanded its AI partnership with ServiceNow to automate enterprise workflows. Wipro ADR surged 18.54% on NYSE, marking the biggest single-day gain since 2008. Investors are also tracking the company’s ₹15,000 crore buyback offer and growing momentum in AI-led enterprise transformation.
Shares of Wipro rose 4.6% on May 29, after the IT services company said it had expanded its partnership with US-based software provider ServiceNow to deploy agentic AI workflows across core enterprise functions such as IT, HR, procurement and cybersecurity.
Wipro saw a sharp rally in its US-listed shares on Thursday and Friday after announcing an expanded partnership with ServiceNow to deploy agentic AI workflows across enterprise operations. Wipro’s American Depositary Receipts (ADR) jumped 18.54% to close at $2.43 on the New York Stock Exchange, after rising as much as 21% intraday to a high of $2.49.
The surge marked Wipro ADR biggest single-day gain since October 2008. The stock has now advanced in eight out of the last 10 trading sessions and gained around 31% during that period. Over the past one month, the ADR has risen about 21%, while it is up nearly 9% over three months. However, the stock remains down 11% over six months and 16% over the last one year.
The rally followed Wipro’s announcement that it would integrate its Wipro Intelligence platform, a unified suite of AI-powered platforms and solutions, with the ServiceNow AI Platform. The collaboration aims to help enterprises automate and streamline workflows across business systems while improving governance, operational visibility and execution efficiency.
The expanded partnership will focus on deploying agentic AI workflows across key enterprise functions, including IT, human resources, procurement and cybersecurity. According to the company, the integration is designed to reduce manual coordination, improve workflow orchestration and enable organisations to scale AI adoption with stronger governance and auditability.
As part of the collaboration, Wipro Intelligence solutions will leverage ServiceNow’s AI capabilities across multiple business functions. SmartProcure will help streamline procurement workflows through standardised intake, approvals and execution processes, reducing bottlenecks across the procurement value chain.
Another solution, Telco Autonomous Networks, modernises telecom service operations by combining AI-enabled workflows with telecom-specific context. The platform is expected to improve issue resolution and enhance service quality across telecom operations.
Wipro’s Cyber Transform solution will focus on strengthening cybersecurity operations by improving vulnerability management, incident response workflows and governance across the cybersecurity value chain.
Amit Zavery, President, Chief Operating Officer and Chief Product Officer at ServiceNow, said enterprise AI adoption is moving beyond experimentation towards connected and outcome-driven implementation. He added that when agentic AI operates within secure workflows, enterprises can achieve measurable business results.
Malay Joshi, Chief Executive Officer of Wipro’s Americas 1 Strategic Market Unit, said the major challenge for enterprises today is not AI ambition, but execution at scale. He stated that the expanded partnership is designed to bridge that gap through a consulting-led and AI-powered approach that translates business priorities into industry-specific AI solutions.
According to Wipro, enterprises adopting the integrated platform can expect a unified system for submitting and managing work requests across business functions, policy-aligned execution with built-in governance and auditability, reduced cycle times through lower manual coordination and better operational visibility into workflows and task ownership.
The company added that the partnership is expected to help enterprises deploy agentic AI at scale while improving employee experience, operational agility and measurable business outcomes.
The sharp rally in Wipro ADR also places the company’s Indian-listed shares in focus ahead of its ₹15,000 crore share buyback. The record date for the buyback has been fixed as June 5. Under the buyback plan, Wipro will repurchase up to 60 crore equity shares, representing more than 5% of its equity, at ₹250 per share. The buyback offer is also available to ADR holders.
In India, Wipro shares had witnessed an eight-session winning streak before ending lower in the previous trading session. The stock closed at ₹201.6 on the BSE on Wednesday, down 1.1% for the day.
The strong move in Wipro ADR also lifted sentiment across the IT sector. Infosys ADR rose 2.5% to $12.70 on the NYSE following Wipro’s rally, reflecting positive investor sentiment around AI-led enterprise transformation opportunities in the technology sector.
Source: Dalal Street Investment Journal (DSIJ), TradingView, BSE, NSE
SEBI Registered Research Analyst (INH000006396).
Founded in 1986, Dalal Street Investment Journal (DSIJ) brings decades of experience in India’s equity markets. DSIJ's research combines fundamental analysis with price action, guided by disciplined risk management and capital preservation. They follow a structured, data-driven approach designed to help investors and traders make informed decisions beyond short-term market noise.
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