Wipro shares end 2.5% higher on deal boost

Shares of Wipro Monday settled 2.5 per cent higher after the IT services major announced winning USD 1.5 billion contract from Alight Solutions.

Its shares trimmed most of the early gains to end 2.49 per cent up at Rs 309.15 on the BSE. During the day, the stock jumped 8.73 per cent to Rs 328.

Wipro was the biggest gainer among the 30 blue chips.

On the NSE, its shares went up by 2.35 per cent to close at Rs 308.35.

In terms of equity volume, 14.98 lakh shares of the company were traded on BSE and over 2 crore shares changed hands at NSE during the day.

The deal was announced Sunday.

Under the 10-year deal, Wipro will provide a comprehensive suite of solutions and services to the Illinois-based Alight Solutions that provides technology-enabled health, wealth, HR and finance solutions.

"This deal will result in revenues of USD 1.5 to 1.6 billion for Wipro over the tenure. This is Wipro's largest win to date," Wipro said in a statement Sunday.

This engagement will enable the digital transformation of Alight's offerings and enhance the employee experience of Alight's clients by leveraging Wipro's strengths in digital technologies, cognitive automation and data analytics, it added.

The current deal will come as a shot in the arm for the Bengaluru-based firm, which saw its first quarter profits this fiscal grow over 2 per cent to Rs 2,120 crore and revenue rising 4.72 per cent to Rs 14,307 crore as compared to the previous year.