Wipro shares end 2.5 pct higher after winning USD 1.5 bn contract

Shares of Wipro Monday settled 2.5 percent higher after the IT services major announced winning USD 1.5 billion contract from Alight Solutions.

Its shares trimmed most of the early gains to end 2.49 percent up at Rs 309.15 on the BSE. During the day, the stock jumped 8.73 percent to Rs 328.

Wipro was the biggest gainer among the 30 blue chips.

On the NSE, its shares went up by 2.35 percent to close at Rs 308.35.

In terms of equity volume, 14.98 lakh shares of the company were traded on BSE and over 2 crore shares changed hands at NSE during the day.

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.

"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 percent to Rs 2,120 crore and revenue rising 4.72 percent to Rs 14,307 crore as compared to the previous year.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)