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      Infosys crawls higher after completing acquisition of Brilliant Basics

      MoM Team / Mumbai, Sep 11, 2017 10:28 AM IST

        Infosys crawls higher after completing acquisition of Brilliant Basics

        Infosys rose 0.4 percent to Rs 889 on BSE after the company announced that it has completed the acquisition of Brilliant Basics.

        The announcement was made during market hours today, 11 September 2017.

        Meanwhile, the S&P BSE Sensex was up 157.92 points, or 0.51 percent to 31,848.78.

        On the BSE, 69,643 shares were traded in the counter so far, compared with average daily volumes of 5.68 lakh shares in the past one quarter. The stock had hit a high of Rs 892.20 and a low of Rs 884 so far during the day. The stock hit a 52-week high of Rs 1,080.70 on 14 October 2016. The stock hit a 52-week low of Rs 861.50 on 22 August 2017.

        The stock had declined 3.88 percent in five sessions to settle at Rs 884.40 on 8 September 2017, from a close of Rs 920.10 on 1 September 2017.

        The stock had underperformed the market over the past one month till 8 September 2017, falling 8.31 percent compared with 1.02 percent decline in the Sensex. The scrip had also underperformed the market in past one quarter, dropping 7.52 percent as against Sensex's 1.52 percent rise. The scrip had also underperformed the market in past one year, declining 14.79 percent as against Sensex's 9.1 percent rise.

        The large-cap company has equity capital of Rs 1,148.48 crore. Face value per share is Rs 5.

        Brilliant Basics is a London-based product design and customer experience (CX) innovator known for its world-class design thinking-led approach and experience in executing global programs. The acquisition is in accordance with the terms set out in the agreement announced by the company on 3 August 2017.

        Through this acquisition, Infosys further expands its worldwide connected network of digital studios that are focused on fulfilling the needs of global clients for end-to-end digital transformation solutions required to meet customer demand for next-generation enhanced customer experiences.

        The addition of Brilliant Basics extends Infosys' digital design services network to include Europe and the Middle East, and enhances the company's expertise across financial services, retail and telco sectors, the company added.

        Infosys' consolidated net profit fell 3.3 percent to Rs 3483 crore on 0.2 percent decline in revenue to Rs 17078 crore in Q1 June 2017 over Q4 March 2017.

        Infosys is a global leader in technology services and consulting.


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      Source: Capital Market


    Infosys crawls higher after completing acquisition of Brilliant Basics

    The stock is now quoted at Rs 889 on the BSE.


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