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Wipro ADR jumps nearly 20 percent after expanded ServiceNow agentic AI partnership, shares seen rebounding despite Q4FY26 profit dip and record share buyback plan
Wipro shares in focus after ADR jumps 19%
Wipro share price: Wipro shares will be in focus on Friday’s session, May 29, after the company’s ADR (American Depositary Receipt) surged almost 19 per cent overnight on the New York Stock Exchange (NYSE) following the partnership announcement with ServiceNow to implement and scale up agentic AI workflows across crore enterprise functions such as IT, HR, procurement and cybersecurity.
This is the biggest single-day gain that the US-listed entity has seen since October 2008. Wipro ADR ended at $2.43 with a gain of 18.54 per cent on May 28.
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 enabling organizations to streamline the initiation, orchestration, and execution of work across enterprise systems, Wipro said in the announcement.
Wipro believes this partnership will enable enterprises to implement agentic AI at scale, as well as deliver policy-aligned actions that enhance employee experience, operational agility, and measurable business value.
The partnership has boosted the sentiment of investors at a time when the entire industry is facing headwinds over the rise of AI, posing questions over the viability of their SaaS-based business model.
Wipro shares were down by 20 per cent over the past six months to come at Rs 201 per share on BSE.
On Friday’s session, the scrip may see a rebound with hopes that the new partnership will pull up the sluggish growth of the IT company and reinvigorate a new momentum.
Wipro’s Net Profit Falls In Q4
Wipro had earlier reported 1.9 per cent year-on-year (YoY) decline in consolidated net profit to Rs 3,521 crore for the quarter ended March 2026 (Q4FY26), even as revenue rose 7.7 per cent YoY.
Revenue from operations during the January-March quarter stood at Rs 24,236.3 crore, compared with Rs 22,504.2 crore in the corresponding quarter last year.
The company had posted a net profit of Rs 3,588.1 crore in the year-ago period.
On a sequential basis, net profit rose 12.3 per cent, while revenue increased 2.9 per cent.
IT services operating margin for the March quarter stood at 17.3 per cent, down 0.3 percentage points sequentially and 0.2 percentage points from a year ago.
Voluntary attrition on a trailing 12-month basis came in at 13.8 per cent.
Wipro has also announced the biggest buyback scheme in its listed history. The company plans to repurchase up to 60 crore equity shares, representing 5.7 per cent of total paid-up equity capital, through the tender route at Rs 250 per share. Currently, the share price of Wipro stands at Rs 210.26 apiece. The record date has been fixed for June 5, 2026.
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