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