Infy hits record high on winning transformation deal from Daimler

Infosys rose 1.45% to Rs 1238.45 after IT major and Daimler AG announced a long-term strategic partnership for a technology-driven IT infrastructure transformation.

After receiving regulatory approvals, Daimler AG will transform its IT operating model and infrastructure landscape across workplace services, service desk, data center, networks and SAP Basis together with Infosys. The partnership will enable Daimler to deepen its focus on software engineering and to establish a fully scalable on-demand digital IT infrastructure and anytime-anywhere workplace. The collaboration will empower Daimler to strengthen its IT capabilities, and Infosys, its automotive expertise.

Daimler will work towards a model that ensures a robust IT infrastructure across its plants and regions, and supports consolidation of its data centers, scaling its IT operations, and bringing innovations to the fore.

As a part of this partnership, automotive IT infrastructure experts based out of Germany, wider Europe, the US and the APAC region will transition from Daimler AG to Infosys. The transfer will enable Infosys to bolster and grow its automotive business, while offering Daimler employees strong prospects for long-term career growth and development. Infosys did not disclose financial details of the deal.

Infosys hit a record high of Rs 1249 in early trade today. From its 52-week low of Rs 511.10, the counter has jumped 142%.

Infosys is a global leader in next-generation digital services and consulting. Its consolidated net profit jumped 13.71% to Rs 4,858 crore on 3.82% rise in net sales to Rs 24,570 crore in Q2 September 2020 over Q1 June 2020.

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