BENGALURU, March 12, 2026, 21:45 IST
Shares of Wipro Ltd pushed higher for a second straight session Thursday, following news of a multi-year contract with U.S. firm TruStage aimed at overhauling its retirement-services unit. The stock finished at 202.51 rupees on the NSE, up 0.14%. Wednesday’s session saw a 0.62% gain, coinciding with the announcement.
This comes as Wipro tries to recover from a difficult period. Shares remain 27.09% lower year-on-year, with a steep drop in January after the company warned about sluggish near-term growth and disappointing deal bookings—the tally for fresh contracts—in its last quarterly report. 1
Wipro, in a filing from March 11, outlined plans to revamp TruStage’s core retirement-services tech and operations, roll out a wider vendor-management model, and pull in both its Wipro Intelligence platform and Designit arm for the initiative. The company didn’t share financial details.
Chris Copeland, chief business officer at TruStage, described the project as a “significant step forward” for the company’s middle-market audience. Wipro CEO Srini Pallia noted that clients are looking for “simpler, more digital-first experiences.”
Indian equities struggled, with the Nifty 50 losing 0.95% and the Nifty IT index off 0.24%. Against that backdrop, Wipro’s slight uptick caught some attention. 1
Nervousness has been simmering for weeks. Back in January, Wipro projected March-quarter revenue growth anywhere from flat to a modest 2% rise over the previous quarter, factoring in recent acquisitions. Deal bookings for the period landed at $3.34 billion—a six-quarter low. Morgan Stanley responded by downgrading the stock to “underweight” and cutting its target price to 242 rupees, citing dimmer growth prospects compared to Tata Consultancy Services and Infosys. 2
Anmol Garg at DAM Capital flagged the guidance as “below street expectations” after the results. Wipro’s got a “double whammy” on its hands with both revenue and cost control, said UnearthInsight founder Gaurav Vasu. 3
Still, figuring out what this will mean for upcoming earnings isn’t straightforward. There’s no word on the contract size, and analysts have flagged that project revenues are taking time to show up. So, while landing the TruStage deal is a boost for the mood, it doesn’t clear up the bigger question around growth. 4
Wipro, the country’s fourth-biggest IT exporter, trades roughly 75 rupees under its 52-week high of 277.7 rupees. Investors are watching for new contract wins as the company works to recover lost ground. 2
