# Shares of Wipro rose 4.6% on May 29, after the IT services company said it had expanded its partnership with US-based software provider ServiceNow.

*genai, business · news · 2026-05-29 · Moneycontrol*

## Key points

- Wipro expanded its ServiceNow partnership to deploy agentic AI workflows across core enterprise functions.
- Wipro Intelligence will be integrated with the ServiceNow AI Platform for unified enterprise AI orchestration.
- Wipro's ADR surged 18.54% on NYSE, the largest single-day gain since October 2008.
- Wipro announced a buyback at Rs 250 per share, with the record date set for June 5.

Shares of Wipro rose 4.6% on May 29, after the IT services company said it had expanded its partnership with US-based software provider ServiceNow to deploy agentic AI workflows across core enterprise functions such as IT, HR, procurement and cybersecurity. Under this expanded partnership, Wipro will integrate Wipro Intelligence, its unified suite of AI-powered platforms, solutions, and transformative offerings, with the ServiceNow AI Platform enabling organisations to streamline the initiation, orchestration, and execution of work across enterprise systems, Wipro said in the announcement. Wipro believes this partnership will enable enterprises to implement agentic AI at scale, as well as deliver policy-aligned actions that enhance employee experience, operational agility, and measurable business value. The partnership has boosted the sentiment of investors at a time when the entire industry is facing headwinds over the rise of AI, posing questions over the viability of their SaaS-based business model. The company’s ADR (American Depositary Receipt) surged almost 19% overnight on the New York Stock Exchange (NYSE) following the partnership announcement with ServiceNow. This is the biggest single-day gain that the US-listed entity has seen since October 2008. Wipro ADR ended at $2.43 with a gain of 18.54% on May 28. The stock has been witnessing steady buying after the company announced the buyback at a price of Rs 250 per share, representing a premium of nearly 21 per cent over its previous closing price. The IT major has fixed June 5 as the record date for the buyback, making shareholders eligible to participate in the programme. Wipro’s board had approved the proposal on April 16 to repurchase up to 60 crore equity shares through the tender offer route. The buyback size represents over 5 percent of the company’s total equity share capital. The Bengaluru-headquartered company said the buyback would be carried out at Rs 250 per share, significantly above the prevailing market price at the time of the announcement. The company had also stated that members of the promoter and promoter group intend to participate in the buyback programme. This marks Wipro’s first share buyback announcement in almost three years. The previous buyback was undertaken in June 2023, when the company repurchased shares worth Rs 12,000 crore between June 22 and June 30. During that programme, Wipro bought back 26.96 crore equity shares, equivalent to 4.91 percent of its total equity capital, at Rs 445 per share.

**Companies:** Wipro, ServiceNow
**Countries:** United States, India

[Read the full story on Moneycontrol](https://www.moneycontrol.com/news/business/markets/wipro-shares-rise-up-to-4-5-after-it-firm-s-ai-partnership-with-servicenow-13935319.html)

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