BENGALURU, March 11, 2026, 20:59 IST
Wipro on Wednesday announced a multi-year deal with U.S.-based TruStage, landing a contract to overhaul the insurer’s retirement-services operations. The agreement gives investors a fresh deal to consider, after months of stock pressure. “Simpler, more digital-first experiences”—that’s what financial-services clients are asking for, according to Chief Executive Srini Pallia. Wipro shares ended the day up 0.65% at 202.23 rupees on the NSE.
Timing played a role here. The exchange’s notice went up at 3:51 p.m. IST, just after the cash market closed. Wipro shares have dropped about 24% in 2026 so far—investors are still waiting for clear signs that fresh deals might jumpstart growth. The session saw a broader pullback; the Nifty 50 slipped 1.63% that Wednesday.
Wipro’s deal pipeline has drawn close investor scrutiny since January. Bookings, or the total value of new contracts, slipped to their lowest point in six quarters. Management projected sequential revenue growth anywhere from flat up to 2%, trailing the more stable pace seen at Tata Consultancy Services and Infosys.
Wipro posted total bookings of $3.335 billion for the December quarter, a 5.7% drop from the previous year on a constant currency basis. Large deal wins slid 8.4%. Net income came in at 31.2 billion rupees, down 7%. Still, the IT services unit saw operating margin expand to 17.6%.
The TruStage deal landed with no price tag attached. Wipro’s role: overhauling core retirement-services tech and operations, taking on pieces of the infrastructure job, and stepping in to coordinate TruStage’s broader mix of outside vendors. “A significant step forward,” said Chris Copeland, chief business officer at TruStage. The Economic Times
Not all the sentiment is negative. Jefferies flagged Wipro as having the least downside risk among large IT stocks under its AI worst-case scenario. Ravi Singh, chief research officer at Master Capital Services, pointed out that AI could also drive fresh demand across cloud, data, and cybersecurity.
Still, a single contract won’t resolve the broader debate about growth. Foreign investors offloaded 169.49 billion rupees worth of Indian IT shares in February, marking the largest outflow in seven months. Piyush Gupta at AlphaGrep Investment Management flagged “multiple headwinds” hitting the sector, with rapid advances in AI tools standing out. Reuters
Wipro, for its part, isn’t buying into that argument. Hari Shetty, the firm’s chief strategist and technology officer, told Reuters last month that AI represents a “large opportunity.” He said clients continue to rely on service providers to translate automation into broader, organization-wide changes. Reuters
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