Infosys Shares Decline 5%

The IT sector stocks were trading weak on Thursday morning with Infosys Ltd being among the biggest losers on Nifty after a nearly 5 percent decline. Shares of the IT giant touched an intraday low of Rs 652.60.

On Wednesday, the company informed the stock exchanges that it has partnered with NICE Actimize to offer its delivery capabilities and resell the latter's end-to-end financial crime software solutions. NICE Actimize offers autonomous financial crime management solutions.

Infosys: Quotes, News

BSE 1300.4524.2 (-1.86%)

NSE 1300.8025.1 (-1.93%)

"This global partnership will allow Infosys to offer its best-in-class delivery capabilities and resell NICE Actimize's end-to-end financial crime software solutions through either a cloud or on-premises environment to a growing customer base around the world," a statement said.

Leveraging their respective experiences across financial crime management, the two entities will provide their regulatory and compliance solutions and services to support multiple industry sectors, it added.

Among the benefits of this collaborative approach, client organisations will create an efficient path to overcome emerging and rapidly evolving digital threats and improve operational efficiencies while delivering exceptional customer experience, it said.

"Leveraging Infosys SaaS and managed services powered by NICE Actimize, we will be able to deliver significant value for our clients by focusing on three key dimensions - speed, cost savings, and future-proofing," Infosys Senior Vice President and Head of Financial Services Business EMEA Ajay Vij said.

In a separate statement, Infosys said it has been selected by GlobalFoundries (GF), a specialty foundry, as its partner for digital transformation.

Through this partnership, Infosys will provide expertise and analytical solutions to optimise the overall efficiency and agility of GF's manufacturing and business operations, the statement said.