Infosys inches up on news of further acquisitions

It is evaluating a dozen more startups at gaining cutting-edge technology such as automation and Artificial Intelligence

Shares of Information technology giant, Infosys are trading higher by over 1% to Rs 2,308 on the BSE after acquiring an automation startup Panaya for Rs 1,200 crore is evaluating a dozen more startups — all aimed not at bulking revenues or adding clients, as Indian IT companies typically do, but at gaining cutting-edge technology such as automation and artificial intelligence (AI) according to media reports.

Infosys CEO Vishal Sikka's goal is three-fold — use automation and artificial intelligence to make existing service lines more efficient, increase the proportion of revenue coming from so-called next-generation services, and increase overall revenue productivity.

 

The stock opened at Rs 2,304, touched a high of Rs 2,311 and a low of Rs 2,290 on the BSE3. A total of 9,489 shares have changed hands on the BSE.