Infosys: Daimler deal to accelerate growth

Infosys: Daimler deal to accelerate growth

Share price of Infosys rallied nearly 2% to Rs 1,244.50 apiece on NSE after winning a multi-year deal from German automotive major Daimler to drive hybrid-cloud powered innovation and IT infrastructure transformation.
While Infosys did not disclose the size of the deal, but it is pegged it at over a billion dollars, making it the second billion dollar deal for Infosys in a pandemic year, months after it won a large deal from Vanguard.
Given the uncertainty around the COVID-19 pandemic and the focus of enterprises to cut costs there could be cut in IT budgets or deferral of certain projects which could impact revenue growth for Infosys in FY22.
Infosys is believed to be the ultimate growth stock from India which has changed the shape of the IT industry. It is also regaining its bellwether status, which it had lost a few years ago.

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