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Infosys shares remain in focus today after the IT major completed the acquisition of Danske Bank’s IT centre in India. The acquisition is part of Infosys’ strategy to expand its footprint and reinforces commitment to the Nordics countries, a strategic market for the company. The Nordic region consists of Denmark, Norway, Sweden, Finland, and Iceland, as well as the Faroe Islands, Greenland, and Aland.
Early today, Infosys shares opened flat at ₹1,443 against the previous closing price of ₹1,443.05 on the BSE. In the first hour of trade so far, the IT heavyweight moved in a narrow range, hitting high and low of ₹1,448.90 and ₹1,435.35, respectively. At the time of reporting, the IT stock was trading 0.36% lower at ₹1,437.85 levels with a market capitalisation of ₹5.96 lakh crore.
Infosys shares touched a 52-week high of ₹1,672.45 on December 1, 2022, and a 52-week low of ₹1,215.45 on April 25, 2023. The stock has given negative returns in the last one year, falling 1.5% in a 12-month period, while it dropped 5.5% in the calendar year 2023. In the past six months, the stock has fallen over 4%, while it gained 4.5% in a month and 1.5% in a week.
In June this year, Denmark-headquartered Danske Bank selected Infosys as a strategic partner to accelerate the bank’s digital transformation initiatives with speed and scale. As part of this collaboration, Infosys signed a deal to acquire Danske Bank’s IT centre in India, where over 1,400 professionals are employed.
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