Wipro Shares Jump Over 3% on $1 Billion Mega Deal With Olam Group; PL Capital Maintains ‘Buy’ Rating

Shares of Wipro surged over 3% in early trade after the company announced a multi-year strategic transformation deal worth $1 billion with the Olam Group. Wipro shares opened at Rs. 197, up around 1.5% from the previous close of Rs.194, and quickly surged to hit an intraday high of Rs. 201.18, rising nearly 3.7%.

However, Wipro's share price performance so far this year has been quite lacklustre as the stock is down 26.45% year to date.

Wipro-Olam Deal Major Details

Wipro has entered into an 8-year deal with Olam Group, which is a Singapore-based global food and agri-business firm. The deal is expected to exceed $1 billion in total contract value, with a committed spend of $800 million. As per the Official release regarding the agreement, "Wipro will deliver end-to-end digital transformation services using a consulting-led and AI-powered approach.The partnership will focus on transforming Olam's 'farm-to-fork' value chain, covering areas such as farming, demand forecasting, trading, supply chain operations, and customer engagement. The goal is to enhance operational efficiency, build resilience, and drive scalable long-term growth."

As part of the transaction, Wipro will also acquire Mindsprint, which will become a wholly owned subsidiary, subject to regulatory approvals. The deal is expected to be completed by Q1 FY27 i,e June 2026.

Wipro Share Price Target

PL Capital in its report dated April 1, has given a "BUY" rating to the stock with target price of Rs. 230 per share.

Since the earnings season is around the corner and Wipro will soon announce its Q4FY26 results, the brokerage firm in the report cited, "India's IT sector is expected to deliver a soft and slightly underwhelming performance in Q4FY26, despite an otherwise stable year. After the usual Q3 seasonality and furlough impact, the March quarter is likely to see sluggish momentum, weighed down by macro uncertainty and global geopolitical tensions."

"The report expects Tier II and mid-cap IT companies to outperform Tier I players once again in Q4FY26. Tier II firms are likely to post around 1.2% QoQ CC growth," the report further mentioned.

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