Bengaluru, April 9 -- Large deal wins at Wipro Ltd, India's fourth largest IT exporter, are a rare event. But two sizeable contracts in 12 months have made market watchers sit up and take notice.

On 26 March 2025, Wipro Ltd bagged a $650 million contract, spread over 10 years, from UK-based insurance company Phoenix Group, a firm traditionally serviced by Tata Consultancy Services Ltd (TCS), India's largest IT services company.

The Phoenix deal followed another large contract in June 2024. Although Wipro did not name the client, it announced a $500 million, five-year contract, from a communications company based in the US.

Analysts and investors are no doubt wondering if the company's lingering problems of tepid growth are finally solv...