Wipro: Aggressive deal wins, internal changes boost investor sentiment

Analysts estimate the company's revenue to grow 8 per cent in 2021-22, the highest since 2015-16

Shares of Wipro rallied nearly 6 per cent on Wednesday after the information technology (IT) major announced the signing of a $700-million deal to provide IT services to German food wholesaler Metro AG for five years.

Announced late on Tuesday, the deal -- which is originally for five years -- can be extended by another four years, and that will enhance the minimum revenue commitment to $1 billion. Wipro has been aggressive in winning large deals since the management change, say analysts. “Aggression in deal wins has continued even in the third quarter, which is seasonally a weak quarter, with Wipro