Infosys gains on entering into strategic partnership with Allied Irish Bank

03 Jul 2015

Infosys is currently trading at Rs. 992.40, up by 4.25 points or 0.43% from its previous closing of Rs. 988.15 on the BSE.

The scrip opened at Rs. 987.00 and has touched a high and low of Rs. 992.90 and Rs. 983.55 respectively. So far 42970 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1167.60 on 20-Feb-2015 and a 52 week low of Rs. 797.05 on 14-Jul-2014.

Last one week high and low of the scrip stood at Rs. 1011.75 and Rs. 980.00 respectively. The current market cap of the company is Rs. 227409.01 crore.

The promoters holding in the company stood at 13.08% while Institutions and Non-Institutions held 53.06% and 17.66% respectively.

Infosys, a global leader in consulting, technology, outsourcing and next-generation services, has been selected as a strategic partner by Allied Irish Banks, plc (AIB), a financial services group operating predominantly in the Republic of Ireland and the UK. Leveraging the momentum of this partnership, Infosys will also make significant investments in the Republic of Ireland.

As a strategic partner to AIB, Infosys will provide application development and management, and transformation and innovation services. Infosys will also set up a 200-seat facility in Dublin to house the staff who will be transferring from AIB as well as any additional staff who will be appointed locally following recent agreements that Infosys has signed in the region.

This exciting partnership with AIB is a springboard for Infosys to expand its services into a new market. Infosys intends to set aside US$10m from its global Innovation Fund for Ireland-based start-ups. Earlier this year, Infosys announced the US$500m Innovation Fund earmarked for investments in the growth of disruptive new technologies. Infosys is keen to continue sharing its expertise to assist start-ups that are developing and enabling these technologies.

 

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