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Wipro Ltd., headquartered in Bengaluru, saw a significant surge of over 5% in its shares after securing a mega $500 million deal from a leading US communication services provider. The surge in Wipro’s shares propelled it to the top gainer position on the Nifty 50 index, marking a positive outlook for the company’s future prospects. The deal, which spans a period of five years, involves managed services encompassing specific products and industry-specific solutions. Despite the discretionary spending environment remaining tight, brokerage firm Morgan Stanley views this deal as a positive development for Wipro. The identity of the communication services provider awarding the contract has not been disclosed by Wipro. At 11:44 am, Wipro shares were trading 5.16% higher at ₹484.80, reflecting the positive market sentiment towards the company’s growth trajectory. While Wipro reported a net profit decline for the fourth quarter ending March 2024, the company’s sequential revenue growth indicates resilience amidst challenging market conditions. The revenue forecast for Wipro’s IT services segment in Q1FY25 showcases a promising outlook in terms of revenue generation. For more detailed insights and updates on Wipro’s $500 million US deal and its impact on the market, stay tuned to HeadlineFly.com for the latest business news and developments.