Wipro share rally over 3% on US contract win

On May 31, the company had also announced the expansion of retail-focused capabilities within Wipro VisionEDGE+, which was developed in partnership with Cisco and AT&T, and leveraging Amazon Web Services (AWS).

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In its fourth quarter results for FY24, Wipro had reported large deal bookings at $4.6 billion for the entire financial year, which was a year-on-year (YoY) increase of 17.4%.

“A leading US-based telecom wireless operator has selected Wipro as a strategic partner to provide managed services and overhaul the client’s IT and digital operations. As part of this deal, Wipro will implement and operate a leading IT SaaS operating platform across the organization, drive data driven insights, enhance digital and billing operating platforms, and drive better security and quality engineering practices,” Wipro had further stated in a media release.

In the last one year, have surged by 20%, with 15.5% gains coming in the last 6 months.

Technically, the stock is well placed above all its short and long term exponential moving averages and placed near the 53 level on RSI as per the Trendlyne data.