Infosys up 2%; co signs AI, automation deal with strategic client

Infosys share price gained 2 percent at Rs 1,445.35 at 9.20 am after the company said that it had signed a multi-year agreement with one of its strategic clients to provide AI and automation-related services.

“Infosys has entered into framework agreement with one of its existing strategic clients to provide AI and automation-led development, modernization and maintenance services. The total client target spend over 5 years is estimated at USD 2 billion,” Infosys said.

The company will announce results for the first quarter ended June 30, 2023 on July 20, 2023 around 3.45 p.m. Indian Standard Time (IST).

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In May, the company bagged a deal from energy company BP to be their primary partner for end-to-end application services.

In another deal, the company had signed a strategic collaboration on June 26 with Danske Bank, a leading Nordic Bank, to accelerate the bank’s digital transformation initiatives with speed and scale.

On June 27, company signed a Memorandum of Understanding (MoU) with Skillsoft to revamp education and learning for students from class 6 to lifelong learners in India.

Infosys will provide learners, free of cost, access to a rich repository of Skillsoft learning content designed to build technology, leadership and business, and behavioral skills through Infosys Springboard.

The share touched a 52-week high of Rs 1,672.45 and a 52-week low of Rs 1,215.45 on 01 December, 2022 and 25 April, 2023, respectively.

Currently, the stock is trading 13.58 percent below its 52-week high and 18.91 percent above its 52-week low.