Wipro shares in spotlight on launching innovation lab in South Korea; check details

In a regulatory filing dated March 23, the IT company stated that it launched the innovation lab as part of the Wipro Innovation Network (WIN) and its continued investment in “local talent to support South Korean clients locally and globally”.

The Bengaluru-based firm noted that the Seoul innovation facility will serve as a space for close collaboration with South Korean clients and ecosystem partners, “enabling co‑creation, rapid experimentation, and solution development.”

It added that the lab will also showcase Wipro Intelligence, its unified suite of AI‑powered platforms, solutions, and transformative offerings.

The lab will focus primarily on technology, automotive, and industrial sectors, supporting use cases such as intelligent product engineering, software‑defined vehicles, smart manufacturing, supply‑chain optimisation, and AI‑enabled operations, Wipro stated.

Commenting on the development, Vinay Firake, CEO of APMEA (Asia Pacific, India, Middle East, and Africa) Strategic Market Unit, Wipro, said: “South Korea is a strategic growth market for Wipro and an increasingly important center of global innovation. Our expanded presence reflects our long‑term commitment to the region. By strengthening local capabilities, connecting Korea more deeply into our global delivery and innovation network, and co‑innovating closely with clients, we aim to help enterprises translate innovation into measurable business outcomes.”

With the launch of the innovation lab in Seoul, Wipro stated that it will operate nine innovation facilities globally, including five across the APMEA region.

Wipro stock performance

Shares of Wipro closed 1.76% lower at ₹187.54 apiece on the National Stock Exchange (NSE) on Monday. During the trading session, the scrip touched a 52-week low of ₹187 per equity share, amid a broad-based decline in the market. However, the development was announced after the market closed.

The stock has lost 4% in the past week and 9% over the month. On a year-to-date basis, it has fallen 30%.

The share hit a 52-week high of ₹274.70 per unit on March 25, 2025.

Wipro has a total market capitalisation of ₹1.97 lakh crore, as of March 23, 2026, according to data on the NSE.