Bengaluru-based technology services provider Wipro Ltd.’s US-listed shares jumped as much as 21 percent on Thursday, May 28, after the company announced an expanded partnership with ServiceNow to implement and scale agentic AI workflows across core enterprise functions.

Wipro’s American Depositary Receipt (ADR) rallied 21 percent intraday, settling up 18.54 percent at $2.43 on the New York Stock Exchange. The move marked the biggest single-day gain for the US-listed entity since October 2008. The ADR has now risen in eight of the last 10 trading sessions and gained roughly 31 percent over those 10 sessions.

The surge followed Wipro’s announcement that it will integrate Wipro Intelligence -- the company’s unified suite of AI-powered platforms and solutions -- with the ServiceNow AI Platform. The collaboration is aimed at enabling organizations to streamline initiation, orchestration and execution of work across enterprise systems while embedding policy-aligned governance and auditability into workflow design.

Wipro said the expanded partnership will deploy agentic AI workflows across IT, HR, procurement and cybersecurity. Specific use cases include reducing bottlenecks across the procurement value chain, speeding issue resolution and improving service quality in telecom, and strengthening security operations by improving vulnerability and incident response workflows across the cybersecurity value chain.

“Our expanded partnership with ServiceNow is designed to bridge that gap through a consulting-led, AI-powered approach that translates business priorities into industry-aligned AI solutions,” Malay Joshi, CEO of Wipro’s Americas 1 Strategic Market Unit, said.

Key benefits cited by Wipro include a unified experience for submitting and managing work requests across enterprise functions; policy-aligned execution with governance and auditability built directly into workflow design; improved cycle times by eliminating manual coordination and unnecessary handoffs; and clearer operational visibility into status, ownership and process completion.

Indian-listed shares in focus

Wipro’s Indian-listed shares are also in the spotlight ahead of the record date for the company’s Rs 15,000 crore share buyback, fixed for June 5. The buyback -- which will see Wipro repurchase up to 60 crore equity shares (more than 5 percent of equity) at Rs 250 per share -- is also available to ADR holders.

In India, Wipro had seen an eight-day winning streak in its domestic listing before the stock ended lower on Wednesday, May 27, closing at Rs 201.6 on the BSE, down 1.1 percent that day. Over the last month the ADR price has gained about 21 percent, and it has risen roughly 9 percent in three months; however, it remains down 11 percent over six months and 16 percent over one year.