New Delhi: Shares of Wipro Monday surged more than 8 per cent in morning trade on bourses after the IT services major said it had bagged USD 1.5 bn deal from Alight Solutions, its biggest deal till date. The shares were reacting to the development as 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. The shares of the company today opened on a bullish note and touched an intra-day high of Rs 328, up 8.73 per cent 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 per cent, over its last close. “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.