Infosys Limited American Depositary Shares - INFY STOCK NEWS

Infosys released the Modernization Radar 2022, revealing that 50% of global legacy applications are set to modernize within two years. This modernization is crucial for reducing operational costs, increasing revenues, and enhancing customer experience. Key findings highlight a majority of legacy systems are core to business, presenting significant risks due to inadequate support. Companies are encouraged to adopt strategic modernization plans, upskill talent, and utilize phased approaches to minimize disruptions.

Infosys and Manufacturers Alliance Foundation released a report on May 4, 2022, examining the manufacturing sector's progress in reducing carbon emissions. The report reveals that 45% of manufacturers plan to expand their carbon initiatives, with the aerospace and automotive industries leading in emissions tracking. However, 94% of respondents find it challenging to capture product carbon footprints. Digital technologies are seen as essential for tracking emissions, with 45% already using data for monitoring. The report emphasizes the role of digitalization in achieving sustainability goals.

Infosys (NSE: INFY) announced a partnership with Nu Skin Enterprises (NYSE: NUS) to enhance digital commerce in the beauty and wellness sector. Utilizing the Infosys Equinox platform, Nu Skin aims to innovate consumer engagement and drive business growth through social commerce capabilities. The collaboration focuses on delivering personalized shopping experiences via multiple digital touchpoints, including websites and mobile apps. Key executives from both companies highlighted the potential for transformative change in customer interaction and brand engagement within the industry.

Infosys (NYSE: INFY) has launched the Infosys Cobalt Financial Services Cloud, a dedicated platform for financial services enterprises aimed at accelerating cloud adoption and enhancing innovation. This secure platform provides financial services-specific assets, low-code applications, and advanced cloud migration tools. With features such as regulatory compliance and a partner ecosystem, it aims to drive business agility and customer experience. MarketAxess has already adopted the platform to improve reconciliation processes, demonstrating its practical applications in the industry.

Infosys Public Services launched Infosys LaborForce, a cloud-native Platform as a Service (PaaS) solution for Unemployment Insurance (UI) systems, on April 19, 2022. Built on the Salesforce Platform, LaborForce aims to assist states in overhauling their unemployment systems by improving tax, benefits, and workforce programs. The platform offers features like automated case management and advanced fraud detection, enhancing user experience for state employees and citizens. This solution is seen as critical for modernizing UI systems, especially post-COVID-19.

Infosys (NSE: INFY) reported impressive FY22 results, achieving $16.3 billion in revenue, marking a 19.7% growth in constant currency—the highest in a decade. Operating margin stood at 23.0%, with EPS increasing by 15.2%. The strong performance was fueled by large deal wins totaling $9.5 billion, with Q4 showcasing a 1.2% growth sequentially and a TCV of $2.3 billion. For FY23, the company projects a revenue growth of 13%-15% and an operating margin of 21%-23%. Free cash flow exceeded $3 billion, and a final dividend of ₹16 per share was proposed.

Infosys (NSE: INFY), in collaboration with Rolls-Royce, launched an 'Aerospace Engineering and Digital Innovation Centre' in Bengaluru, India, aimed at enhancing R&D services integrated with digital capabilities. This initiative is set to strengthen Rolls-Royce's engineering ecosystem and support the revival of the aerospace sector. The partnership emphasizes mutual benefits over the next seven years, focusing on digital transformation and cost optimization in engineering services. Key executives from both companies expressed optimism regarding their collaboration and its potential impact on the global civil aerospace market.

On March 23, 2022, EY announced a global alliance with Infosys, enhancing their collaboration in tech-enabled transformation programs. The alliance focuses on deploying agile digital solutions to improve efficiency, reduce costs, and drive growth for organizations. By integrating EY’s consulting services with Infosys' technology platforms, they aim to empower businesses' digital transformation agendas through innovative strategies. The alliance will leverage technologies like cloud, IoT, and AI to help clients navigate legacy transitions and enhance their market competitiveness.