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Wipro through its step-down subsidiary - Wipro IT Services, LLC has signed a definitive agreement to acquire 20% shareholding in FLARRE.AI, Inc. on 15 October 2026. The transaction is expected to close by 31 October 2026.
FLARRE.AI, Inc. is an agentic AI platform purpose-built for insurance, and its suite of AI SDLC agents across different core insurance platforms, helps carriers accelerate implementation and deployment across product launches, expansions, upgrades, and migrations.
The FLARRE.AI, Inc. Insurance Native Agentic Orchestration Platform combined with Insurance knowledge graph and an Enterprise AI Control plane, embeds agentic intelligence directly into underwriting, claims, and other workflows across the full insurance value chain, to deliver unprecedented gains for operations teams.
Wipro Ltd rose for a third straight session today. The stock is quoting at Rs 173.68, up 1.61% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 1.69% on the day, quoting at 23005.5. The Sensex is at 74164.05, up 1.9%. Wipro Ltd has added around 4.07% in last one month.
Meanwhile, Nifty IT index of which Wipro Ltd is a constituent, has added around 5.94% in last one month and is currently quoting at 30171, up 2.14% on the day. The volume in the stock stood at 73.35 lakh shares today, compared to the daily average of 223.24 lakh shares in last one month.
The benchmark October futures contract for the stock is quoting at Rs 174.18, up 1.37% on the day. Wipro Ltd is down 31.57% in last one year as compared to a 10.08% fall in NIFTY and a 13.27% fall in the Nifty IT index.
The PE of the stock is 14.99 based on TTM earnings ending June 26.
Sequentially, net profit fell 4.7%, while gross revenue increased 1.1%.
Profit before tax stood at Rs 4,204.7 crore in Q2 FY27, down 3.0% vs the previous quarter and 1.8% vs the year-ago quarter.
IT services operating margin stood at 16.5%, up 0.5 percentage points QoQ but down 0.2 percentage points YoY.
IT services segment revenue stood at $2,611.5 million, down 0.1% QoQ and up 0.3% YoY. In constant-currency terms, IT services revenue was flat sequentially and increased 0.6% YoY.
Total bookings declined 22.9% QoQ in constant-currency terms to $2,595 million, while large-deal bookings fell 58.6% to $674 million.
Operating cash flow stood at Rs 5,300 crore, up 61.3% QoQ and equivalent to 165.8% of net income.
Voluntary attrition over the trailing 12 months stood at 13.8%.
For the quarter ending 31 December 2026, Wipro expects IT services revenue to range between $2,571 million and $2,625 million. This implies sequential constant-currency revenue growth of -1.5% to 0.5%.
Employee benefits expense increased 9.0% YoY to Rs 14,837 crore. Sub-contracting and technical fees rose 6.1% to Rs 2,811.1 crore, while depreciation, amortisation and impairment expense increased 26.7% to Rs 876.7 crore. Finance costs rose 51.1% YoY to Rs 545.4 crore. Software licence expenses for internal use increased 20.2% to Rs 631.4 crore, while travel expenses rose 19.5% to Rs 399 crore.
Chief executive officer and managing director Srini Pallia said strategic investments were helping the company win new clients, expand existing relationships and create larger transformation opportunities. He identified AI as a long-term growth driver and highlighted momentum in the company’s AI-Native Unit and AI offerings portfolio.
Chief financial officer Aparna Iyer said the operating margin expanded sequentially despite continued investments in the business and employees. She added that operating cash flow remained strong at about 166% of net income.
Wipro is a technology services and consulting company with over 230,000 employees and business partners across 65 countries.
Wipro Ltd is up for a third straight session in a row. The stock is quoting at Rs 161.88, up 1.59% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.18% on the day, quoting at 22462.4. The Sensex is at 72065.15, up 0.22%. Wipro Ltd has dropped around 6.32% in last one month.
Meanwhile, Nifty IT index of which Wipro Ltd is a constituent, has dropped around 6.18% in last one month and is currently quoting at 28304.7, down 0.57% on the day. The volume in the stock stood at 204.52 lakh shares today, compared to the daily average of 202.27 lakh shares in last one month.
The benchmark October futures contract for the stock is quoting at Rs 162.82, up 1.6% on the day. Wipro Ltd is down 33.14% in last one year as compared to a 10.43% fall in NIFTY and a 18.95% fall in the Nifty IT index.
The PE of the stock is 13.98 based on TTM earnings ending June 26.
The transaction is now expected to be completed by 31 December 2026.