Infosys rose 0.65% to Rs 914.35 at 9:45 IST on BSE after the company announced a strategic seven-year partnership with The CMA CGM Group.
The announcement was made after market hours yesterday, 18 September 2017.Meanwhile, the S&P BSE Sensex was down 31.21 points, or 0.1% to 32,392.55.
On the BSE, 52,000 shares were traded in the counter so far, compared with average daily volumes of 3.6 lakh shares in the past two weeks. The stock had hit a high of Rs 915.40 and a low of Rs 903.65 so far during the day. The stock hit a 52-week high of Rs 1,080.70 on 14 October 2016. The stock had hit a 52-week low of Rs 861.50 on 22 August 2017.
The stock had underperformed the market over the past one month till 18 September 2017, falling 1.59% compared with the Sensex's 2.85% rise. The scrip had also underperformed the market over the past one quarter, dropping 3.41% as against the Sensex's 4.4% rise. The scrip had also underperformed the market over the past one year, falling 14.33% as against the Sensex's 13.37% rise.
The large-cap company has equity capital of Rs 1148.48 crore. Face value per share is Rs 5.
Infosys and The CMA CGM Group, a world leader in container shipping announced a strategic seven-year partnership which will simplify and transform CMA CGM's IT applications and improve customer service experience.
As part of the agreement, and at the request of CMA CGM, Infosys will open a Delivery Center (DC) in Marseille, which will become a key hub attracting and enhancing local expertise. Infosys will also acquire CMA CGM's Innovation and Delivery Center in Dubai, UAE, expanding its footprint in the Middle East.
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Through this partnership, Infosys will provide CMA CGM with the skills required to maintain its applications and develop its SAP projects. Infosys will also provide CMA CGM with new high value-added technologies that will improve its agility and responsiveness.
As part of its ongoing digital transformation, CMA CGM will use Infosys Nia's artificial intelligence platform and its scalable automation platform, AssistEdge, to revamp its customer service, improve process execution and enhance internal performance. These new systems will allow CMA CGM to be more flexible and innovative in a dynamic industry.
Infosys' consolidated net profit fell 3.3% to Rs 3483 crore on 0.2% decline in revenue to Rs 17078 crore in Q1 June 2017 over Q4 March 2017.
Infosys is a global leader in technology services and consulting.
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