Infosys Slips 1% as Investors Book Profit; Unveils Cutting-Edge Development Center in Nagpur

18 Dec 2023 , 02:29 PM

Infosys shares slipped 1% to Rs 1,560 on December 18, following a 5% gain in the previous session. The stock’s recent surge of 12% in the past month outpaced the Nifty IT index, which rose by 11%.

Earlier, Infosys shares reached a 52-week high of Rs 1,620 on February 9. The company invested around Rs 230 crore in a new development center in Nagpur, Maharashtra, unveiled on December 15.

The facility supports hybrid work models, re-skilling, and up-skilling of talent, focusing on next-gen technologies like cloud, AI, and digital.

The center will house over 3,000 employees and features eco-friendly amenities like low-energy cooling and efficient rainwater harvesting.

CFO Nilanjan Roy stated the center’s inauguration aligns with Infosys’ commitment to continuous innovation, contributing to business growth, job opportunities, and sustainability.

Infosys CFO Nilanjan Roy will step down on March 31, 2024, with Jayesh Sanghrajka taking over from April 1, 2024.

In the last 18 months, Infosys witnessed the departures of former presidents Ravi Kumar S and Mohit Joshi.

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