Infosys has inaugurated its Digital Innovation and Design Center in Providence and announced a partnership with the Community College of Rhode Island (CCRI) to build and launch the Digital Economy Aspirations Lab (DEAL) to enable and develop students for the digital jobs of the future. Infosys also announced that it has already hired over 100 employees in Rhode Island toward its goal of creating 500 jobs in the state by 2022. Since Spring 2017, Infosys has hired more than 7,600 American workers as part of its ongoing commitment to accelerate the pace of digital innovation for American enterprises

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Infosys announced that it has adopted HPE GreenLake to accelerate clients' digital transformation. The partnership will help enterprises make smart infrastructure investments, paying for what they consume,while benefiting from the security offered by a trusted managed services provider. Clients will also benefit by having a secure private cloud and the advantages of economics and flexibility that exists in public cloud.Together, this will help enterprises accelerate their Hybrid Cloud transformation providing them increased agility and reduced total cost of ownership.

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Infosys Ltd is up for a fifth straight session today. The stock is quoting at Rs 725.3, up 3.33% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is up around 0.97% on the day, quoting at 10841.6. The Sensex is at 36175.66, up 0.9%. Infosys Ltd has gained around 4.45% in last one month.

Meanwhile, Nifty IT index of which Infosys Ltd is a constituent, has gained around 1.95% in last one month and is currently quoting at 14223.6, up 2.53% on the day. The volume in the stock stood at 127.16 lakh shares today, compared to the daily average of 92.32 lakh shares in last one month.

The benchmark January futures contract for the stock is quoting at Rs 724.45, up 3.49% on the day. Infosys Ltd is up 29.19% in last one year as compared to a 1.32% jump in NIFTY and a 17.32% jump in the Nifty IT index.

The PE of the stock is 21.88 based on TTM earnings ending December 18.

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The result was announced after market hours on Friday, 11 January 2019.

Meanwhile, the S&P BSE Sensex was down 185.40 points, or 0.51% to 35,824.44.

On the BSE, 4.21 lakh shares were traded in the counter so far compared with average daily volumes of 5.96 lakh shares in the past two weeks. The stock had hit a high of Rs 709 and a low of Rs 698.90 so far during the day. The stock hit a 52-week high of Rs 754.95 on 1 October 2018. The stock hit a 52-week low of Rs 532.75 on 15 January 2018.

Operating profit was reported at Rs 4830 crore, a growth of 11.8% year-on-year and a decline of 1.3% quarter-on-quarter.

The company revised its FY2019 revenue guidance in constant currency upward to 8.5%-9.0%. It retained operating margin guidance at 22%-24%.

Infosys' CEO and MD, Salil Parekh said that with increased client relevance, the firm saw double digit (10.1%) year-on-year growth in Q3 on a constant currency basis. The company also had another strong quarter in its digital business with 33.1% growth and large deals at $1.57 billion which gives it confidence entering 2019.

Pravin Rao, COO, said volume growth was strong and revenue productivity was stable despite Q3 being a seasonally weak quarter. Infosys had good growth across geographies and large business segments. Attrition declined during the quarter and the company is continuing on the path of increased interventions and employee engagements to reduce it further, he added.

The board in its meeting held on Friday, 11 January 2019, approved buyback of equity shares, from the open market route through the Indian stock exchanges, amounting to Rs 8260 crore (maximum buyback size) at a price not exceeding Rs 800 per share (maximum buyback price), subject to shareholders' approval by way of postal ballot. Further, the board also approved a special dividend of Rs 4 per share.

Further, based on the recommendation of the nomination and remuneration committee, the board approved the re-appointment of Kiran Mazumdar-Shaw as the lead independent director from 1 April 2019 to 22 March 2023, subject to shareholder' approval.

Infosys is a global leader in next-generation digital services and consulting.

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