Infosys gains after Santander UK deal

Infosys rose 1.14% to Rs 1,292.45 at 9:31 IST on BSE after the company said that Infosys Finacle will power Santander UK's international cash management system.

The announcement was made at the fag end of the trading session yesterday, 26 June 2018.

Meanwhile, the S&P BSE Sensex was up 36.56 points, or 0.10% to 35,526.60.

On the BSE, 12,000 shares were traded in the counter so far compared with average daily volumes of 1.02 lakh shares in the past two weeks. The stock had hit a high of Rs 1293.90 so far during the day, which is also a record high for the counter. The stock had hit a low of Rs 1281 so far during the day. The stock hit a 52-week low of Rs 861.50 on 22 August 2017.

Infosys Finacle, part of EdgeVerve Systems, a fully owned subsidiary of Infosys, and Santander UK, a leading financial services provider in the UK, announced the launch of a new inter-bank cash management system for its corporate customers. To enhance the user experience, Santander will introduce an inter-bank cash management portal to provide its corporate customers a fully-integrated solution with resilient, secure cash management services accessible through any device of their choice. This will enable greater personalization options and the ability to rapidly introduce new product innovations for customers. Santander will utilize Finacle's proven digital offering which includes Finacle Online Banking, Omnichannel Hub, Payment Solution and Liquidity Management Solution to help achieve this, and to better support its customers.

Santander UK is a financial services provider in the UK that offers a wide range of personal and commercial financial products and services.

On a consolidated basis, Infosys' net profit fell 28.06% to Rs 3690 crore on 1.62% increase in net sales to Rs 18083 crore in Q4 March 2018 over Q3 December 2017.

Infosys is a global leader in next-generation digital services and consulting.

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