Wipro shares rise 1% as subsidiary picks additional 20% stake in Aggne Global; what investors should know

Wipro shares rise 1.03% to touch an intraday high of ₹208.55 apiece on Tuesday, June 2, as the IT major said its step-down subsidiary Wipro IT Services LLC has acquired an additional stake in Aggne Global.

"Wipro IT Services, LLC (stepdown subsidiary) will acquire an additional 20% stake in Aggne Global Inc,” the company said in a regulatory filing.

With this, Wipro IT Services, LLC’s shareholding in Aggne Global Inc., will increase to 80%.

The transaction is expected to be completed by June 5, 2026. The company said that this additional stake purchase in Aggne will further strengthen Wipro’s competitive advantage in the insurance sector—particularly in driving AI and IPled transformations for the Property & Casualty Insurance (P&C) sector.

The regulatory filing stated that the cost of acquisition for the shares is a purchase consideration of $28.5 million, attributable to Aggne Global Inc., subject to customary closing adjustments.

In February 2024, Wipro and Wipro IT Services, LLC, acquired a 60% stake in Aggne Global IT Services Private Limited and Aggne Global Inc., respectively. The transaction was completed on February 14, 2024.

Aggne Group is a fast-growing insurtech company offering a wide range of AI and intellectual property-driven services designed to help insurers transform operations, drive new efficiencies, and deliver optimal customer experiences.

Wipro Q4 earnings

The country's fourth-largest information technology (IT) services company by market capitalisation had reported a net profit of ₹3,502 crore in the quarter ended March 2026, marking an annual decline of 2% from ₹3,570 crore in the same period last year. However, on a sequential basis, Wipro's net profit rose 12% from ₹3,119 crore in the previous quarter.

Wipro's revenue from operations advanced 8% to ₹24,236 crore in the fourth quarter of the previous financial year compared with ₹22,504 crore in the year-ago period. The company's IT services revenue rose 0.6% quarter on quarter (QoQ) and 2.1% year on year (YoY) to $2,651 million.

The company expects revenue in the first quarter of the current financial year to be in the range of $2,597 million to $2,651 million, translating into sequential growth guidance of -2% to 0% in constant currency terms.

For financial year 2025-26, the Bengaluru-based company's profit rose 0.47% to ₹13,197 crore compared with ₹13,154 crore in the previous financial year.

Wipro share price

At 10:25 AM, Wipro shares were trading at ₹208.1 apiece on the National Stock Exchange, gaining 0.82%.

Over a month’s time, the stock has gained 3%, while it has lost over 17% in the last six months. From the beginning of the year, Wipro shares have tumbled 23%.

The company has a market capitalisation of ₹2.16 lakh crore.

Shares of the company had touched their one-year high of ₹273.10 apiece on December 22, 2025, while their 52-week low of ₹186.50 was hit on March 30, 2026.