Infosys gains on securing three-year contract from TOMS Shoes

Shares of Infosys are trading higher by almost 2% at Rs 1,123 on the BSE after the company secured a three-year contract to develop and maintain all global web-based properties of not for profit enterprise TOMS Shoes for an undisclosed sum.

The move is aimed at helping TOMS, which has a model of gifting one pair of shoes to needy children for every one purchased by customers. TOMS has gifted 45 million shoes to children since 2006, in streamlining the management of its web-based properties in order to lower support and development costs.

"Infosys brings to us valuable experience to support and optimize the way we run our existing digital platforms so that we have the time and resources to branch out into new areas," said Matt King, Senior Vice President of Technology, TOMS in a statement.

The stock opened at Rs 1,115 and touched a high of Rs 1,123 on the BSE. A total of 21,185 shares changed hands on the BSE.