Wipro shares rise after launching new AI services to drive innovation

Shares of information technology major Wipro rose over 3 per cent on Thursday after it announced new agentic AI services to empower nations to deploy Artificial Intelligence (AI) capabilities to drive innovation, economic growth and sovereignty.

 

Wipro's stock rose as much as 3.11 per cent during the day to Rs 273.95 per share, the biggest intraday gain since March 3 this year. The stock pared gains to trade 1.9 per cent higher at Rs 268.8 apiece, compared to a 0.59 per cent advance in Nifty 50 as of 11:02 AM. 

 

Shares of the company extended gains to their third day while they have fallen 11 per cent this year, compared to a 2.7 per cent fall in the benchmark Nifty 50. The information technology major has a total market capitalisation of Rs 2.8 trillion, according to BSE data. 

 

In an exchange filing on Wednesday, Wipro announced new agentic AI services to empower nations around the globe to develop and deploy AI capabilities leveraging their unique infrastructure, data, workforce and business networks to drive innovation, economic growth and sovereignty. The offerings leverage AI for local impact by bringing together Wipro's locally governed AI frameworks powered by Wipro's WeGA Studio and NVIDIA AI Enterprise software, the statement said.  

 

"Organizations are seeking AI solutions that are not only effective but also ethical and transparent. By working together with NVIDIA, we will be able to quickly deploy AI agent systems and technologies," Nagendra Bandaru, president and managing Partner at Wipro Technology Services said.   IT pack rally 

 

IT services firms TechMahindra, and L&T Technology also announced individual partnerships with chipmaking giant Nvidia for AI-based solutions for various industries on Wednesday. These software firms are showcasing the solutions leveraging Nvidia technologies at the US-based chip major's ongoing annual GPU Technology Conference (GTC) in California.

 

Alongside Wipro, other information technology stocks rallied during the day after US Federal Reserve Chair Jerome Powell said that there is still room to cut rates later in the year. Powell also said that President Donald Trump’s polices as one reason why inflation is reigniting. Nifty IT rose as much as 2.25 per cent during the day led by gains in Tata Consultancy Services and HCL technologies. 

 

Further, in the first fortnight of March, FPIs net sold IT stocks to the tune of Rs 6,934 crore; whereas total net sales stood at Rs 30,013 crore.