• Wipro Limited shares are down 7.9% at $2.29, extending losses as the broader IT sector faces pressure.
  • The decline occurs despite the company announcing on June 18, 2026, it is increasing its stake in Aggne Global IT Services to 80% for $2.1 million to strengthen its insurance technology capabilities.
  • Wipro also reported the successful completion of a major multi-year data center migration for METRO AG, a key step in METRO's AI-led transformation journey.
  • Indian IT stocks, including Wipro, experienced a downturn following a hawkish stance from the US Federal Reserve, which raised concerns about reduced discretionary spending.