Infosys - INFY STOCK NEWS

Infosys Public Services has implemented a pilot blockchain initiative in Riverside County, California, aimed at enhancing recordkeeping efficiency and security. This project, developed with Amazon Web Services, allows county officials to manage records digitally, reducing annual physical storage costs of approximately $500,000. The transition is expected to improve access to vital records, currently issued in paper format, by allowing citizens to retrieve them digitally within minutes. The initiative supports a broader digital transformation for the county, potentially benefiting multiple departments.

Infosys has launched a new Automotive Digital Technology and Innovation Center in Stuttgart, Germany, enhancing its commitment to the automotive sector. This center unites automotive and IT specialists to drive innovation and support sustainable growth, particularly in the electric vehicle market. It will provide advanced training and focus on IT infrastructure transformation, including AI and automation.

The center will help Daimler AG in its digital transformation efforts and bolster the German automotive industry against rising electric vehicle demand.

Infosys reported strong Q1 results for FY22, achieving a 16.9% year-on-year growth and 4.8% sequential growth in constant currency. Total contract value (TCV) of $2.6 billion was recorded, with digital revenues constituting 53.9% of total revenues and growing by 42.1% YoY. Operating margin stood at 23.7%, and free cash flow increased by 18.5% YoY. The company revised its revenue guidance to 14%-16% for the fiscal year. Infosys also initiated a share buyback program, purchasing 9.8 million shares to date.

Infosys (NSE: INFY) will announce its first-quarter financial results for the period ending June 30, 2021, on July 14, 2021, at 3:45 p.m. IST. The results will be accessible on the company’s website. Following the announcement, a virtual press conference will be held at 4:30 p.m. IST, where management will address media questions. Additionally, an earnings call will take place at 6:00 p.m. IST for investors and analysts, discussing the company's performance. All events will be available for live streaming and archived on the Infosys website.

Hillenbrand has elected Inderpreet Sawhney, previously Group General Counsel at Infosys, to its Board of Directors, expanding the board from 10 to 11 members. Sawhney brings over 25 years of experience, enhancing the board's governance with expertise in legal, ethics, and compliance across a global landscape. She aims to contribute to Hillenbrand's transformation and growth strategy, focusing on innovation. Sawhney will serve on the Audit and Nominating/Corporate Governance Committees, aligning her expertise with Hillenbrand’s ongoing goals to boost shareholder value.

Infosys (NYSE: INFY) has partnered with Archrock to enhance digital technologies in field service operations. This collaboration aims to integrate Microsoft Dynamics 365 Field Service Application, improving operational efficiency and customer experiences. Archrock's initiative, part of a multi-year technology project, focuses on asset management and emissions reduction. Both companies emphasize leveraging digital tools to enhance service technicians' productivity and reduce vehicle mileage. The partnership underscores Infosys's expertise in the energy sector and commitment to delivering digital transformation.

Infosys (NYSE: INFY) and the French Tennis Federation have introduced new technologies to enhance the Roland-Garros experience for fans, players, and coaches. The innovations include AI, 3D solutions, and immersive tools aimed at bridging gaps created by the pandemic. Notable features are a 3D Virtual Art Museum, advanced AI tools for player training, and a revamped fan experience through the official app. The tournament runs from May 24 to June 13, 2021, highlighting Infosys' role as a Digital Innovation Partner, setting a standard for digital engagement in sports.

Infosys (NYSE: INFY) announced findings from its Cloud Radar 2021 study, revealing that companies can gain up to $414 billion in new profits annually through effective cloud adoption. The study emphasizes that achieving financial benefits requires at least 60% of systems to be in the cloud. Key drivers for profit growth include speed to market, enhanced capabilities, and new revenue sources. Despite significant progress, less than 20% of enterprises have crossed the 60% cloud threshold, with plans for an increase to over 40% by 2022.

Infosys (NYSE: INFY) has been selected by Britvic, a leading European soft drink company, as a strategic partner to enhance Britvic's digital transformation. This collaboration will focus on streamlining operations across Applications, Cloud Infrastructure, and Service Management, utilizing Infosys Cobalt to improve service delivery through automation and analytics. Senior Vice President Ambeshwar Nath emphasized the company’s commitment to driving innovation in the consumer goods sector. Britvic aims to leverage this partnership to achieve more agility and enhanced digital capabilities.