This Indian tech giant refutes report of multi-million dollar deal with Standard Chartered

In a recent regulatory filing, Wipro has dismissed the rumours about securing a multi-million dollar contract with Standard Chartered and called the article inaccurate and "based on rumour and speculation".

On Tuesday, Wipro refuted an article published in Mint’s online edition on June 16, 2024 that suggested that the IT giant had secured a lucrative deal from Standard Chartered. 

The Mint article claimed that Wipro had won a significant IT outsourcing contract from London-based Standard Chartered Plc, marking the second major contract win under the new CEO, Srinivas Pallia. According to the article, the three-year contract was projected to generate over $50 million in annual revenue for Wipro.

The alleged deal was reported to involve Wipro managing Standard Chartered’s data transformation and IT infrastructure, including a digital component.

Following this, Wipro’s share price increased by over 3% on Tuesday, making it one of the top performers on the Nifty50 index. This surge came after the company's announcement of an extended partnership with US clothing brand Hanesbrands and a new collaboration with financial services company GBST.