Wipro Shares Surge 2.50% at Open on Buyback Optimism and ServiceNow AI Deal; Stock Hits ₹211 High

Mumbai, May 29: Wipro (NSE: WIPRO) opened Friday’s session with a sharp gap-up, touching a session high of ₹211.00 at the open — the same as the opening price — before pulling back to a low of ₹204.64 as early profit-booking set in after the initial burst of buying. The stock was last trading at ₹206.62, up ₹5.04 or 2.50% from its previous close of ₹201.58, with the VWAP for the session at ₹207.65 confirming that the bulk of early volume was transacted well above the previous close. The intraday chart shows a classic gap-up-and-fade pattern, where the stock opened strongly at ₹221 in the pre-open session before settling into a tighter ₹204–210 range as the regular session got under way around 9:15 am.

Order Book

The order book at the time of capture showed a heavily sell-side skewed structure, with 73.10% of total quantity on the ask side against just 26.90% on the bid. Total buy quantity stood at 40,41,913 shares against a significantly larger sell quantity of 1,09,83,230, with bids stacked tightly between ₹206.14 and ₹206.20 and offers between ₹206.28 and ₹206.32 — a narrow spread that indicates an active, liquid market but one where sellers clearly outnumber buyers at the prevailing price, consistent with profit-booking following the gap-up open.

Weekly Trend

The weekly chart reflects a stock that had been quietly building through the first half of the week. Wipro opened near ₹203 on May 22 and climbed steadily to a weekly high of approximately ₹205.90 by May 25 before pulling back to ₹201.58 by May 27’s close — a correction that likely represented some pre-buyback record date positioning and profit-booking after eight consecutive sessions of gains. Friday’s gap-up open at ₹211 has reversed that correction sharply, taking the stock back above the week’s prior high and leaving it on course for a strong weekly close ahead of the June 5 record date.

Wipro-ServiceNow Agentic AI Partnership

Wipro announced an expanded partnership with ServiceNow to implement and scale agentic AI workflows across core enterprise functions including IT, HR, procurement and cybersecurity — a tie-up that positions the company at the forefront of the next wave of enterprise automation. Agentic AI, which enables AI systems to take autonomous multi-step actions rather than simply responding to prompts, is rapidly emerging as one of the most commercially significant enterprise technology trends of 2026, and Wipro’s ability to anchor a major deal with ServiceNow — one of the world’s largest enterprise software platforms — reinforces its credentials as a partner of choice for large-scale AI transformation mandates.

Wipro Buyback

Wipro shares are squarely in focus ahead of the June 5 buyback record date, which is now just one week away. The company’s board had on April 16 approved a ₹15,000 crore buyback at ₹250 per share — a 20.8% premium to Friday’s last traded price of ₹206.62 — covering up to 60 crore equity shares or more than 5% of total equity, with the offer also applicable to holders of Wipro ADRs. The significant gap between the buyback price of ₹250 and the current market price is the primary driver of Friday’s buying interest, as investors and arbitrageurs calculate the acceptance ratio and position accordingly ahead of the record date — a dynamic that had already powered eight consecutive sessions of gains before Wednesday’s brief dip, and appears to be reasserting itself forcefully on Friday.

Source:

• https://www.nseindia.com/get-quote/equity/WIPRO/Wipro-Limited