Infosys shares rise on collaboration with Germany’s Handelsblatt Media Group

Shares of Infosys Ltd, India’s leading software services exporter, gained as much as 1.7% on Thursday after the company announced strategic collaboration with Germany’s leading media company for business and financial information.

Infosys said that it has entered into a strategic collaboration with the Handelsblatt Media Group to make complex reports on global economic and finance issues more accessible and easily consumable for the public.

“As an AI (artificial intelligence) and digital innovation partner for the Handelsblatt Media Group, Infosys will bring the best of digital technology to power innovative storytelling to inform and delight Handelsblatt’s core audience,” Infosys said in a statement.

In the first year of this partnership, Infosys will work with Handelsblatt Research Institute (HRI), an independent economic research institute under the umbrella of the Handelsblatt Media Group.

Infosys will leverage Infosys Topaz – an AI-first set of services, solutions and platforms using generative AI technologies – to support the HRI in making complex HRI reports on global economic and financial topics more consumable for the public.

Collaboration with Infosys will enable HRI to implement new-age customisations like chat functionality, text translation and transformation, text-to-speech and automatic data updates, among other key features.

Following the announcement, the Infosys stock rose as much as 1.77% to hit an intraday high of ₹1510.15 per share on the NSE. At 1:20 pm, shares were trading 1.69% higher at ₹1,509 apiece.

Notably, Infosys shares have fallen nearly 10% in the past one month amid selling pressure in most IT stocks following a cut in the guidance by Accenture.

The IT giant said that it expected full-year revenue growth in the range of 1-3% in FY24 ending August compared with its earlier forecast of 2-5%.