Infosys ties up with Daimler for IT infrastructure transformation; stock reacts positively

Daimler AG and Infosys announced a strategic partnership on Monday after the market hours for a technology-driven IT infrastructure transformation. 

Under this partnership, Infosys will transform Daimler AG's IT operating model and infrastructure landscape across workplace services, service desk, data centre, networks, and SAP basis. 

With the help of Infosys, Daimler AG will deepen its focus on software engineering and establish a fully-scalable on-demand digital IT infrastructure along with ‘anytime-anywhere’ workplace. The collaboration will empower both Daimler and Infosys to strengthen their IT capabilities and automotive expertise, respectively. 

Reacting to this, the stock of Infosys today jumped 2.31 per cent and made an intraday high of Rs 1,249 per share. 

The net sales of Infosys for Q2FY21 increased by 8.58 per cent to Rs 2,4570 crore from Rs 22,629 crore reported for Q2FY20. The company reported an operating profit of Rs 7,653 crore in Q2FY21, expanding by 22.15 per cent compared to the operating profit of Rs 6,265 crore gained in Q2FY20. 

The company reported a net profit of Rs 4,858 crore in Q2FY21, compared to the net profit of Rs 4,037 crore gained in Q2FY20, an increase of 20.34 per cent. 

Daimler AG Group is one of the leading global suppliers of premium cars and also, one of the world's largest manufacturers of commercial vehicles. 

At 10 am today, the share of Infosys was trading at Rs 1,241.60 per share on BSE, up by 1.71 per cent.