Wipro shares in focus after British firm John Lewis Partnership extends collaboration

Wipro informed the exchanges on August 22 that it has been selected by the John Lewis Partnership (JLP), a leading British retail firm, to complete the transformation and modernisation of the company’s IT infrastructure. Wipro said that the transformation project will help JLP in advancing its industry leadership.

As part of the collaboration, Wipro FullStride Cloud will extend JLP’s current cloud infrastructure and provide network and end-user services for another four years. The company added that Wipro’s FullStride Cloud team will collaborate with both JLP and Google Cloud to transform their X86 platform to the cloud. The transformation aims to add new business value by optimising operating costs and streamlining business operations.

Wipro mentioned in a filing on August 22 that Rizing Management LLC, a step-down subsidiary of Wipro Limited, has been voluntarily liquidated with effect from August 21, 2024.

Earlier on August 14, Wipro informed the exchanges that it had released its first ‘Pulse of Cloud’ report highlighting the adoption of artificial intelligence (AI) across industries. The company also mentioned in the release that the ‘The Pulse of Cloud: Quarterly Report July 2024’ survey was conducted between May and June, with 500 senior executives across North America and Europe participating.

The company said that, as per the report, more than 54% of the surveyed organisations cited AI as the main driver of their cloud investments. Wipro added that as organisations prepare for an AI-driven future, they are increasing investments in cloud, with over 50% respondents indicating that they are increasing investments in hybrid (54%) and public (56%) cloud infrastructure. The report also claimed that while a majority of respondents (55%) said their cloud adoption is currently outstripping AI adoption, over 35% said that they are advancing in tandem with both technologies.

Shares of Wipro Ltd were trading 1.19% lower at ₹512 apiece on the NSE at 2:45 pm.