New Delhi, April 6 -- Shares of IT major Wipro surged as much as 2.41% to Rs.200.80 apiece in Monday's trading session on April 6 after the company bagged a long-term strategic transformation deal with Singapore's Olam Group.

The IT stock opened at Rs.197.25 today, as compared to the previous close of Rs.194.91 apiece on Thursday last week.

In an exchange filing on Monday, Wipro announced that the eight-year deal is projected to exceed $1 billion in total contract value, including a committed spend of $800 million.

Singapore-based food and agri-business major Olam Group, backed by Temasek Holdings, employs nearly 40,000 people worldwide.

As part of the agreement, Wipro will provide end-to-end transformation services using a consulting...