The US-listed shares of Wipro surged over 18% in Wall Street trading on Thursday, May 28. Wipro’s American Depositary Receipt (ADR) jumped 18.54% to $2.430 on NYSE.
During the session, Wipro ADR price surged over 21% to an intraday high of $2.490.
The rally in Wipro ADR came after the IT major announced its expanded 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, 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 Buyback
Wipro shares listed in India will also be in focus on Friday ahead of its share buyback record date. Wipro share price had surged for the eight consecutive trading sessions before ending lower on Wednesday.
On April 16, the board of directors of Wipro approved the share buyback proposal worth ₹15,000 crore. The company 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. The share buyback offer is also applicable for Wipro ADRs.
Wipro ADR price has gained 21% in one month and has risen over 9% in three months. Over the past six months Wipro ADR declined 11%, while it has dropped 16% in one year.
On Wednesday, Wipro share price ended 1.10% lower at ₹201.60 apiece on the .