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.
This document is meant for the recipient only for use as intended and not for circulation. This document should not be reproduced or copied or made available to others. The information contained herein is from the public domain or sources believed to be reliable. While reasonable care has been taken to ensure that information given is at the time believed to be fair and correct and opinions based thereupon are reasonable, due to the very nature of research it cannot be warranted or represented that it is accurate or complete and it should not be relied upon as such. Also above note is not a recommendation to Buy or SELL and is only a view based on facts and figures and we will be in no way responsible for any losses incurred by anyone who uses this information to either trade or invests securities mentioned herein.