Infosys gains after winning contract from DNB Bank

Infosys rose 0.49% to Rs 1,051.55 at 09:18 IST on BSE, after the company said that it has won a five-year contract to transform the application landscape of DNB Bank of Norway.

The announcement was made after market hours yesterday, 10 December 2015.

Meanwhile, the S&P BSE Sensex was down 10.71 points or 0.04% at 25,241.61

On BSE, so far 1,816 shares were traded in the counter as against average daily volume of 1.81 lakh shares in the past one quarter.

The stock hit a high of Rs 1,053.95 and a low of Rs 1,050.10 so far during the day. The stock had hit a 52-week low of Rs 932.55 on 10 July 2015. The stock had hit a record high of Rs 1,219 on 12 October 2015.

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

Applying its AiKiDo framework, Infosys will leverage knowledge-based non-disruptive renewal strategies to evolve DNB Bank's entire data cluster, including business intelligence (BI), analytics, data warehousing services, regulatory reporting, and Enterprise Resource Planning (ERP) functions.

Infosys will be DNB Bank's exclusive partner for the development and maintenance of over 64 applications across 14 different technology platforms over the next five years. Infosys will deliver efficiencies in IT operations and data processing and set up offshore support services, including test data management and service virtualization.

DNB Bank is Norway's largest financial services group and one of the largest in the Nordic region in terms of market capitalisation.

On 9 December 2015, Infosys announced that it has made an investment of $4 million in CloudEndure, a startup that provides cloud migration and cloud-based disaster recovery software.

Infosys' consolidated net profit rose 12.14% to Rs 3398 crore on 8.92% growth in net sales to Rs 15635 crore in Q2 September 2015 over Q1 June 2015.

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

Powered by Capital Market - Live News