Infosys gains after expanding alliance with Microsoft Corp

Infosys gained 0.36% to Rs 1,215 at 12:30 IST on BSE after the company announced an expanded relationship with Microsoft Corp., a global leader in platform and productivity solutions in industry-led solutions.

The announcement was made after market hours yesterday, 28 April 2016.

Meanwhile, the S&P BSE Sensex was up 21.18 points or 0.08% at 25,624.28.

On BSE, so far 40,987 shares were traded in the counter as against average daily volume of 3.09 lakh shares in the past one quarter. The stock hit a high of Rs 1,224.40 and a low of Rs 1,210 so far during the day. The stock had hit a record high of Rs 1,267.90 on 18 April 2016. The stock had hit a 52-week low of Rs 932.55 on 10 July 2015. The stock had underperformed the market over the past one month till 28 April 2016, gaining 0.56% compared with Sensex's 2.55% gains. The scrip had, however, outperformed the market in past one quarter, gaining 7.08% as against Sensex's 4.63% gains.

The large-cap company has equity capital of Rs 1148.47 crore. Face value per share is Rs 5.

Infosys announced an expanded relationship with Microsoft Corp to simplify and automate migration to Microsoft products and to accelerate Microsoft Azure-based and other digital transformations for clients. Infosys has committed to scale its team of dedicated Azure consultants to 5,000.

The enhanced alliance builds on Infosys' longstanding relationship with Microsoft as a Global Managed Alliance Partner. Infosys brings the productivity benefits of Microsoft products to its global client base, and is also a provider of technology and business process services to Microsoft.

Many organizations wanting to migrate to the cloud select Azure as an open, hyperscale, enterprise-grade cloud platform. Together, Microsoft and Infosys address a range of migration and implementation scenarios to bring the benefits of cloud to clients quickly and easily. Infosys world-class learning and education center continuously renews the skills of thousands of engineers, helping to drive innovation and automation in all engagements with Microsoft.

Infosys' consolidated net profit rose 3.8% to Rs 3597 crore on 4.1% growth in revenue to Rs 16550 crore in Q4 March 2016 over Q3 December 2015.

Infosys is a global leader in consulting, technology and outsourcing solutions.

Powered by Capital Market - Live News