Wipro’s American Depositary Receipts (ADR) surged sharply in US trading on Thursday, rising over 13% to $2.33, as investors reacted to multiple recent corporate developments including the company’s ₹15,000 crore share buyback programme and its expanded AI partnership with ServiceNow.
The ADR was trading 13.66% higher at the time of writing, significantly outperforming broader market moves in the US session.
One of the key developments drawing investor attention is Wipro’s ₹15,000 crore share buyback programme. The company recently fixed June 5, 2026 as the record date for determining shareholder eligibility for the buyback. Wipro plans to repurchase up to 60 crore equity shares at ₹250 per share through the tender offer route. The buyback price represents a premium to the prevailing market price and marks one of the company’s largest capital return initiatives.
Earlier today, Wipro also announced an expanded partnership with ServiceNow to scale agentic AI-powered workflows across core enterprise functions such as IT, HR, procurement and cybersecurity. Under the collaboration, Wipro will integrate its Wipro Intelligence™ AI suite with the ServiceNow AI Platform to help enterprises automate workflows and improve operational efficiency.
The partnership is aimed at enabling enterprises to deploy AI-led automation at scale while improving governance, employee productivity and business outcomes. Wipro stated that the collaboration would help organisations streamline complex enterprise operations using AI-native workflow automation technologies.
Wipro has been actively increasing its focus on AI-led consulting, automation and cloud transformation services amid rising enterprise demand for digital modernisation. The company has recently strengthened several strategic AI partnerships as competition intensifies among global IT services players.
Indian stock markets remained closed on Thursday on account of Bakri Eid. However, Wipro shares are likely to remain in focus on Friday when domestic markets reopen, following the sharp rally in the company’s ADRs in US trading.
Disclaimer: This article is for informational purposes only and should not be considered investment advice.