May 29 (Reuters) – Shares of Wipro rose as much as 4% on Friday, after the IT services company said it had expanded its partnership with U.S.-based software provider ServiceNow to deploy agentic AI workflows across core enterprise functions.
The stock later pared gains to trade 2.60% higher at 206.82 rupees by 9:51 a.m. IST, on track for its biggest intraday percentage gain since April 1.
On Thursday, Wipro said it will integrate its Wipro Intelligence platform with ServiceNow’s AI platform to help clients automate workflows across IT, human resources, procurement and cybersecurity functions.
The company said the tie-up would help enterprises scale AI adoption while improving operational efficiency.
The partnership comes as Indian IT firms race to bolster their artificial intelligence offerings amid growing investor concerns that advances in AI could disrupt traditional outsourcing and technology services work.
The broader Nifty IT index was up 2.33% as of 9:51 am IST.
The sector has been under pressure after rapid advances in generative AI and a push by companies such as OpenAI into enterprise services reignited fears about long-term demand for conventional IT projects.
Wipro’s American Depositary Receipt (ADR) surged almost 19%overnight on the New York Stock Exchange (NYSE) following the partnership announcement.
(Reporting by Surbhi Misra in Bengaluru; Editing by Rashmi Aich and Nivedita Bhattacharjee)
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