Wipro Share Price Jumps Over 4% After ADRs Jump Over 18% On AI-Focused ServiceNow Deal

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 was expected to remain in focus after its American Depositary Receipts (ADRs) surged 18.54% on the New York Stock Exchange following the company’s expanded AI partnership with ServiceNow. The ADR climbed to $2.43 at close after touching an intraday high of $2.49, marking a gain of as much as 21% during the trading session.

The sharp rise represents Wipro ADR’s strongest single-day performance since October 2008. Investor sentiment around the stock has strengthened significantly in recent sessions, with the ADR gaining nearly 31% over the last 10 trading days. The stock has also advanced around 21% in the past month and approximately 9% over the last three months.

Expanded Collaboration To Drive Agentic AI Adoption

The rally came after Wipro announced a broader strategic partnership with ServiceNow aimed at accelerating deployment of agentic AI workflows across enterprise operations. Under the agreement, Wipro will integrate its Wipro Intelligence platform with the ServiceNow AI Platform to automate business processes and improve workflow management across organisations.

The collaboration will focus on key business areas such as IT operations, human resources, procurement and cybersecurity. The companies said the initiative is designed to help enterprises simplify workflow execution, reduce dependency on manual coordination and improve operational efficiency through AI-powered automation.

Wipro Intelligence Solutions To Power Enterprise Workflows

As part of the partnership, several Wipro Intelligence offerings will be integrated with ServiceNow’s AI ecosystem. One of the major solutions is SmartProcure, which aims to optimise procurement operations by standardising intake requests, approvals and execution cycles. The solution is expected to reduce delays and improve workflow efficiency across procurement functions.

Wipro is also deploying Telco Autonomous Networks, an AI-driven platform built to modernise telecom service management. The offering combines AI-enabled workflows with telecom-specific operational context to improve issue resolution and customer service quality.

Another key component is Cyber Transform, a cybersecurity-focused solution intended to strengthen vulnerability management, incident response systems and governance controls across enterprise security operations.

Executives Emphasise Scalable AI Implementation

Amit Zavery, President, Chief Operating Officer and Chief Product Officer at ServiceNow, said enterprises are increasingly moving from AI experimentation to practical implementation that delivers measurable outcomes. According to him, integrating agentic AI within secure enterprise workflows can help organisations unlock real business value.

Malay Joshi, CEO of Wipro’s Americas 1 Strategic Market Unit, stated that enterprises are facing challenges in scaling AI adoption despite strong interest in the technology. He added that the partnership with ServiceNow is aimed at helping businesses convert AI ambitions into operational results through a consulting-led execution model backed by governance and control mechanisms.

Companies Highlight Operational Benefits

Wipro said the integrated platform will offer enterprises a unified environment for handling work requests across multiple business functions. The company also highlighted benefits such as built-in policy compliance, stronger governance, faster workflow execution and improved visibility into operational processes.

The partnership is also expected to help organisations improve employee experience and operational agility while enabling enterprise-wide AI deployment at scale.

Buyback Adds Further Attention To Wipro Shares

Apart from the ADR rally, Wipro’s domestic shares are also drawing investor attention ahead of the company’s ₹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 at ₹250 per share, representing more than 5% of the company’s equity base. The buyback offer will also be applicable to ADR holders.

Wipro shares on the BSE had recently witnessed an eight-session gaining streak before closing lower in the previous session. The stock ended at ₹201.6, down 1.1% for the day.

Infosys ADRs Also Advance

The strong momentum in Wipro ADRs also supported sentiment across the broader IT sector. Infosys ADRs rose 2.5% to $12.70 on the NYSE, reflecting investor optimism around AI-driven opportunities for Indian technology companies.