4:51 am - Wednesday May 22, 2024

Infosys up 1.5%, Aikido to help achieve $20bn revenue

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Shares of Infosys gained 1.5 percent intraday Friday in an otherwise weak market. Sharp fall in rupee and launch of three new service offerings on Thursday drove the stock higher. The country’s largest software services exporter launched Aikido, three next-generation services in design thinking, platforms and knowledge-based IT. Brokerage, Morgan Stanley said this will help it transform into a next generation services company and it is a step forward towards Infosys achieving USD 20 billion revenue from new service offerings by 2020. In May, Vishal Sikka, CEO had said looking beyond FY16, mission of the management team is to prepare the company to achieve an aspirational goal of USD 20 billion in revenue by 2020 with at least 30 percent operating margin. What is aiding to the positive sentiment is a weak Indian currency. The rupee has been moving towards 66 a dollar level, down 31 paise to 65.85 per dollar, the lowest level in last two-year. Generally the weak rupee helps exporters to earn more money. At 13:22 hours IST, the scrip of Infosys was quoting at Rs 1,144.80, up Rs 6.60, or 0.58 percent on the BSE.

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