Infosys rose 0.57% to Rs 3,032 at 10:26 IST on BSE after the company said it signed a contract with Toyota Motor Europe for the provision of its pan-European application support.
The announcement was made during trading hours today, 3 October 2013. Financial details of the deal was not disclosed.
Meanwhile, the BSE Sensex was up 275.03 points, or 1.41%, to 19,792.18.
On BSE, 75,000 shares were traded in the counter compared with average volume of 94,826 shares in the past one quarter.
The stock hit a high of Rs 3,041 and a low of Rs 3,020 so far during the day. The stock hit a 52-week high of Rs 3,172.70 on 11 September 2013. The stock hit a 52-week low of Rs 2,190 on 29 April 2013.
The stock had underperformed the market over the past one month till 1 October 2013, sliding 2.76% compared with the Sensex's 4.82% rise. The scrip had, however, outperformed the market in past one quarter, rising 23.17% as against Sensex's 0.31% decline.
The large-cap company has an equity capital of Rs 287.12 crore. Face value per share is Rs 5.
The four-year engagement will see Infosys deploy a managed service model, covering applications across a variety of Toyota's operational areas in Europe, including core automotive processes (such as supply chain, manufacturing, sales, after sales and customer service) and corporate functions (including human resources and finance). This will enable Toyota's IT employees to focus on business support and project development, in addition to supporting cost optimization, Infosys said in a statement.
Prior to this agreement, Infosys has been a key partner of Toyota Motor Europe for projects and transformation delivery services in various initiatives such as its Pan-European IT landscape transformation and connected car, the company added.
Infosys' consolidated net profit declined 0.8% to Rs 2374 crore on 7.8% growth in revenue to Rs 11267 crore in Q1 June 2013 over Q4 March 2013. The results are as per International Financial Reporting Standards (IFRS).
Infosys is a global leader in business consulting and technology solutions.
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