BUZZ-Indian IT exporter Infosys up after collaboration with AI firm Anthropic

Infosys Limited Sponsored ADR -0.21% Pre

Infosys Limited Sponsored ADR

INFY

13.94

13.90

-0.21%

-0.29% Pre

** Shares of Infosys INFY.NS up 2.9% to 1,405 rupees after four sessions of losses

** Indian software exporter says will collaborate with tech firm Anthropic to develop enterprise AI solutions to companies across telecommunications, financial services, manufacturing, and software development

** INFY top gainer on blue-chip Nifty 50 .NSEI index, which is flat

** Stock also top gainer among IT stocks .NIFTYIT, up 2.1%

** INFY, IT stocks have been under pressure for most of February on worries of an AI-led disruption following the launch of a plugin for Anthropic's AI agent that automates tasks

** Brokerages have said such fears are overdone; IT firms to evolve as technologies change, rather than become obsolete

** Analysts tracking INFY rate it "buy" on average, same as 5 other stocks on 10-member Nifty IT index - data compiled by LSEG

** INFY trims monthly losses to 14% vs Nifty IT's 12%