Wipro had an increase in its shares by 5.46 percent to Rs 486.15. The share went up after the IT  company confirmed a $500 million deal made with the US communication service provider. BT  mentioned that the vice president at Religare Broking suggested that take exist at the current level as  it can face resistance near Rs 500. 

Wipro secured a $500 million deal, as a part of this deal the company will provide managed services  and industry-specific solutions. The company has been trying to secure mega deals for the past few  months but failed, the deals valuing more than $500 million are the main factor in growing revenue  for IT-based startups. Previously Wipro announced a multi-billion dollar deal with Nokia to offer real time IT support for global employees network and employee service desk. 

The company had made a total of $4.6 billion worth of large deals for this fiscal year. Last financial year  had the least revenue from communications with 4.2 percent of its total $10.8 billion revenue followed  by manufacturing with a 6.9 percent share, technology at 11.7 percent, and natural resources at 11.8  percent. Wipro shares previously closed at Rs 461 and increased by 5 percent today. As a part of a new  operating model, the IT firm is planning to increase its stake in the IT industry and aims to secure more  deals. 

The startup is aiming to secure a large deal worth more than $500 million by working with its partners  and clients. Wipro is expecting growth in its next financial year 2024-2025 by getting clients in areas  including Generative AI and Artificial intelligence. The company reported an increase in Total Contract  value by 9 percent year on year basis to $1.2 billion for Q4 FY24. The company had order book up by  16 percent at $4.6 billion on a yearly basis compared to FY23.  

Conclusion: 

An Information and technology startup, Wipro reported a 5% increase in its shares to Rs 486.15. The  increase in shares is due to Wipro confirming a $500 million deal made with the US communication  service provider. The current level is expected to face resistance at Rs 500 level. The company focuses  on providing managed services and industry-specific solutions as a part of this $500 million deal. Wipro Shares previously opened at Rs 461. The company focuses on securing large-scale deals and expanding  the market.

Previously Wipro announced a multi-billion dollar deal with Nokia to offer real-time IT  support for global employees network and employee service desk. As a part of a new operating model,  the IT firm is planning to increase its stake in the IT industry and aims to secure more deals. The  company has been trying to secure mega deals for the past few months but failed, the deals valuing  more than $500 million are the main factor in growing revenue for IT-based startups. The company  reported an increase in Total Contract value by 9 percent year on year basis.