Infosys shares recover from 52-week low after ABN AMRO deal extension
At around 12.56 pm, the stock was trading at ₹1,001.20 on the NSE, up 0.71 per cent or ₹7.10 from its previous close of ₹994.10
Infosys shares have rebounded after hitting a 52-week low, following the extension of a strategic collaboration with Dutch bank ABN AMRO Bank. The stock traded at ₹1,001.20 on the NSE earlier, up 0.71 per cent from its previous close of ₹994.10. The company opened at ₹1,010 and peaked at ₹1,021.50 before retreating. The 52-week low of ₹980.40 was reached on September 29.
The trading volume was 69.35 lakh shares, amounting to ₹702.68 crore. However, sell-side pressure still lingers, with 66 per cent of the order quantity on the sell side and 34 per cent on the buy side. SBI Securities views the deal positively for the long term, highlighting its strategic scope covering application development, testing, and IT support services, as well as the use of Infosys Topaz, the company's generative and agentic AI platform.
Infosys will aid ABN AMRO in embedding AI enterprise-wide, optimizing platforms, and establishing a scalable IT foundation. While the stock remains down over 38 per cent year-to-date and nearly 31 per cent over one year, trailing the Nifty 50, it trades at a P/E of 13.30 with a market capitalization of around ₹4.06 lakh crore.
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