Wipro share price jumped over 4% in early trade on Friday, following an overnight rally in its ADR, after the IT major announced that it had expanded its partnership with US-based software provider ServiceNow to deploy agentic AI workflows across core enterprise functions.
Wipro shares gained as much as 4.76% to ₹211.20 apiece on the BSE.
In the US market, Wipro's American Depositary Receipt (ADR) surged more than 18% on Thursday. Wipro ADR price rallied 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 share price resumed its upward trend after two days of losses. The largecap IT stock rose for eight straight sessions till May 25.
AI Partnership
The rally in Wipro share price today 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 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.
Some of the Wipro Intelligence solutions that will leverage the ServiceNow AI Platform capabilities include SmartProcure, Telco Autonomous Networks and Cyber Transform.
Wipro Share Buyback
Wipro share buyback announcement has also fueled a rally in the stock price recently.
The IT major's board of directors, on April 16, approved the share buyback proposal worth ₹15,000 crore. Wipro will repurchase up to 60 crore equity shares, representing more than 5% of its equity, at ₹250 per share.
Wipro buyback record date has been fixed as June 5.
At 9:25 AM, Wipro share price was trading 3.42% higher at ₹208.50 apiece on the BSE.