Info-Tech

Wipro shares jump over 8% as company bags biggest order till date for $1.5 bn from Alight Solutions

Shares of Wipro on Monday surged more than 8 percent in morning trade on bourses after the IT services major said it had bagged $1.5 bn deal from Alight Solutions, its biggest deal till date.

The shares were reacting to the development as the deal was announced on 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.

The shares of the company on Monday opened on a bullish note and touched an intra-day high of Rs 328, up 8.73 percent over its previous closing price.

Similar movement was seen on NSE as well, where the stock touched a high of Rs 327, up 8.54 percent, over its last close.

“This deal will result in revenues of $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 percent to Rs 2,120 crore and revenue rising 4.72 percent to Rs 14,307 crore as compared to the previous year.

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