Wipro share price jumps 8% after company bags $1.5 billion US deal; top gainer on Sensex, Nifty

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Updated: September 3, 2018 11:44:55 AM

Wipro share price: Wipro stock emerged as the top gainer on the BSE Sensex index on Monday, as well as on both the NSE Nifty 50 and Nifty IT indices.

wipro share priceWipro share price: Share price of Wipro jumped after the company bagged its largest-ever deal.

Wipro share price: Wipro shares surged over 8% in early morning trade deals on Monday after the IT services company won its largest deal for digital services. The software services exporter on Sunday said it has bagged an over $1.5 billion engagement from US-based company Alight Solutions LLC, its biggest deal till date. Share price of Wipro edged higher by 8.74% to an intra-day high of Rs 328 per share on the BSE. On the National Stock Exchange, the stock rose to a high of Rs 327, up 8.55% — the stock’s biggest one-day gain since July 2013.

Wipro stock emerged as the top gainer on the BSE Sensex index. Around 10.35 am, the stock was trading higher by 4.74% on the Sensex at Rs 315.95 per share. The stock was also the top gainer on both the NSE Nifty 50 and Nifty IT indices. Almost 1.38 crore shares exchanged hands on the NSE in the first hour of trade on Monday.

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The IT services major said it has won an over $1.5 billion engagement from Alight Solutions LLC, a 10-year deal under which Wipro will provide a comprehensive suite of solutions and services to the Illinois-based company. Alight Solutions provides technology-enabled health, wealth, HR and finance solutions. “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 on Sunday.

Wipro added that the 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. In July 2018, Wipro had partnered Alight Solutions to take over the latter’s captive operations in India – Alight HR Services India – for a consideration of $117 million.  Alight HR Services India was formerly known as Aon HR Services India and was set up in September 2016.

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