Wipro, one of India's leading IT services companies, saw its shares climb 2.83% to ₹256.21 in recent trading, making it the second-best performer in the IT sector. The stock's positive movement comes amid a broader rally in the IT sector, driven by Infosys' share buyback announcement and a weakening rupee.

Stock Performance

Wipro's stock opened at ₹249.30 and reached an intraday high of ₹257.17. Trading volumes were robust, with 117.62 lakh shares changing hands, amounting to ₹300.29 crore in value. The company's strong performance contributed to the Nifty IT index climbing over 2%, with all constituents trading in positive territory.

Sector-wide Rally

The IT sector's rally was primarily sparked by Infosys' board decision to consider a share buyback proposal. This move has led to expectations of similar actions by other IT companies, boosting investor sentiment across the sector. Infosys, the top gainer, saw its shares surge nearly 4%.

Currency Impact

Adding to the positive momentum, the Indian rupee hit an all-time low of 88.36 against the US dollar. This currency depreciation is generally favorable for IT firms like Wipro, which derive a significant portion of their revenue from US-based clients. A weaker rupee typically translates to higher rupee-denominated earnings for these companies.

Share Allotment

In a recent development, Wipro has allotted new equity shares under its employee stock option plans. According to the company's filing:

• 61,954 equity shares were allotted under the ADS Restricted Stock Unit Plan 2004
• 163,524 equity shares were allotted under the Restricted Stock Unit Plan 2007

This allotment is part of Wipro's ongoing employee incentive programs.

Market Context

Despite the day's gains, it's worth noting that the Nifty IT index remains down 19% year-to-date. The sector faces headwinds from concerns over potential US tariffs on software exports and softness in global tech spending. However, the current rally suggests that investors are finding value in IT stocks at current levels, particularly in light of potential share buybacks and the currency advantage.

As the IT sector navigates these mixed signals, Wipro's performance in the coming quarters will be closely watched by investors and analysts alike.

Wipro Limited (NSE: WIPRO), a leading global information technology, consulting, and business process services company, has announced a significant step forward in its partnership with Google Cloud. The company has launched the Wipro Google Gemini Experience Zone, a cutting-edge facility designed to help enterprises explore and leverage Google's advanced AI technologies.

A Hub for AI Exploration and Innovation

The Wipro Google Gemini Experience Zone, located at Wipro's Silicon Valley Innovation Center in Mountain View, California, offers businesses a unique opportunity to gain hands-on experience with Google's state-of-the-art AI technologies. This initiative aims to assist enterprises in identifying and developing generative AI use cases tailored to their specific business needs.

Expanding Accessibility

In addition to the Mountain View facility, Wipro has plans to establish a similar experience zone in Bengaluru, India, further expanding access to these innovative AI technologies for a global audience.

Cutting-Edge Technologies on Display

Visitors to the experience zones will have access to a wide range of Google's AI offerings, including:

• Google Gemini's Large Language Models
• Vertex AI platform
• Other advanced AI technologies

This hands-on approach allows enterprises to experiment with AI-driven applications across various domains, such as:

• Natural language understanding
• Image generation
• Enhanced customer interactions
• Predictive analytics

Collaborative Development of Industry-Specific Solutions

As part of this initiative, Wipro will work closely with businesses to develop AI solutions tailored to specific industries. The focus areas include:

• Retail
• Healthcare
• Financial services
• Manufacturing
• Telecommunications

Expert Guidance for AI Adoption

The experience zones provide a unique opportunity for customers to collaborate directly with AI and ML experts from both Wipro and Google Cloud. This collaboration aims to accelerate AI adoption and help businesses build robust AI capabilities.

By launching the Google Gemini Experience Zone, Wipro demonstrates its commitment to driving innovation and helping enterprises harness the power of AI to transform their operations and create new value propositions in an increasingly digital world.