India's Wipro rises after deal to acquire Olam Group’s IT business

Reuters

Sun, April 5, 2026 astatine 11:23 PM CDT 1 min read

April 6 (Reuters) - Shares of Wipro roseate arsenic overmuch arsenic 3.2% connected Monday aft the Indian IT services ‌firm agreed to bargain the IT services concern of ‌Singapore-based Olam Group for an endeavor worth of $375 million.

The banal was past up ​1.9% astatine 9:34 a.m. IST, making it the apical gainer connected the IT index, which was trading 0.5% higher. It was besides the second-biggest gainer connected the benchmark Nifty 50, which was down ‌0.2%.

Olam Holdings, a portion ⁠of the Singapore nutrient and agribusiness conglomerate, volition merchantability 200 cardinal mean shares of Mindsprint, its ⁠IT and integer services arm, to Wipro Networks, a portion of Wipro, Olam said successful a connection connected Monday.

Mindsprint provides technology, cybersecurity ​and integer ​services crossed sectors including nutrient ​and agribusiness, manufacturing, retail and ‌consumer packaged goods, arsenic good arsenic healthcare and beingness sciences.

Analysts astatine ICICI Securities said the transaction is Wipro’s largest acquisition to day and improves gross visibility portion strengthening Wipro’s consulting, level and industry-specific capabilities successful the nutrient and agribusiness vertical.

The woody would ‌add domain expertise, IP-led platforms and ​a captive transportation relationship, making the ​engagement much strategical and ​sticky than a accepted outsourcing arrangement, the brokerage ‌said.

Olam has besides awarded Wipro an ​eight-year services declaration ​with a committed yearly walk of $100 million, which Wipro said is expected to transcend $1 cardinal successful full declaration value.

Wipro’s ​shares are present ‌down 24.5% year-to-date, compared with a 19.2% diminution successful the ​IT index.

(Reporting by Kashish Tandon and Sherin Sunny successful ​Bengaluru; Editing by Sumana Nandy)