Firstsource Solutions share price up 4% on inking pact with Microsoft

Firstsource Solutions shares rise: Shares of Firstsource Solutions soared as much as 3.62 per cent to hit an intraday high of Rs 318.50 per share on Tuesday, September 17, 2024. 

The uptick in Firstsource Solutions share price came after the company announced that it has inked a pact with Microsoft to deliver cutting-edge digital transformation services to clients worldwide. 

The collaboration leverages Microsoft Azure OpenAI Service, Azure AI Search, and Azure AI Language to offer innovative, generative AI-powered solutions. These technologies will enhance Firstsource's service offerings, driving efficiency and innovation across various sectors, the company said in a statement.

“Delivering exceptional value and prioritising our clients' interests requires identifying the most effective solutions across the entire ecosystem. At Firstsource, we have cultivated a powerful network of industry leading partners, allowing us to seamlessly integrate their capabilities – like Azure OpenAI – with our own. The collaboration with Microsoft enables us to offer clients the best of both worlds, where the combined value far exceeds the sum of its parts. Our goal is to leverage this network to solve complex challenges for our customers, delivering solutions that are truly cutting-edge and transformative”, said Ritesh Idnani, Managing Director & Chief Executive Officer at Firstsource Solutions.

Furthermore, the new initiative will provide a sophisticated multi-modal and multi-channel search experience, enhancing effectiveness and personalisation for businesses. This announcement builds on the recent launch of Firstsource's relAI, an AI-driven digital transformation suite that underscores the company's commitment to deep-tech innovation.

With this partnership, Firstsource’s clients can anticipate more streamlined operations, better decision-making capabilities, and personalised experiences, thanks to advancements in natural language processing, large language models, and cutting-edge search technologies, the company said.

Firstsource Solutions Limited specialises in business process management and technology solutions across diverse industries. Their offerings include artificial intelligence, machine learning, robotic process automation, and data analytics. By leveraging these advanced technologies, Firstsource helps organisations transform their operations and business models.

The market capitalisation of the company is Rs 21,735.66 crore, according to Bombay Stock Exchange (BSE). The company falls under the BSE500 category.

At 10:20 AM, shares of Firstsource Solutions were trading 1.46 per cent higher at Rs 311.85 per share. In comparison, BSE Sensex was trading 0.11 per cent lower at 82,897.82 levels.