Mphasis Ltd Share Price – NSE  /  BSE

IT - Software, Small Cap

The Gen AI foundry will serve as a dynamic platform for modeling industry use cases and developing proof of concepts (POCs) initially within the financial services Industry, with plans to expand across other sectors.

This virtual forum will offer clients the opportunity to experience demos and POCs either at the Mphasis experience centre in NYC or AWS Executive Briefing Center (EBC) in NYC, providing a showcase of generative AI solutions tailored to the client's needs and objectives.

The Foundry is dedicated to facilitating its adoption in financial services firms, aiding in accelerating efficiencies and fostering business transformation. Solutions such as Intelligent Document Processing (IDP) automates data extraction and analysis, minimizing errors and streamlining workflows, leading to substantial time and cost savings.

Nitin Rakesh, chief executive officer, and managing director of Mphasis, said, “Our collaboration with AWS marks a significant leap forward in Mphasis s journey towards delivering cutting-edge solutions in the area of cloud and cognitive services. The Gen AI Foundry for Financial Services, led by Mphasis.AI, is our commitment to accelerating AI adoption and business modernization for our clients. By harnessing the power of AWS's generative AI and data services, we are poised to set new benchmarks in the financial services industry. This initiative reinforces our vision to be the driver of innovation for global enterprises, providing scalable and sustainable technology solutions.”

Scott Mullins, managing director & general manager, AWS Worldwide Financial Services, said, “AWS is pleased to collaborate with Mphasis to enable the introduction of the GEN AI Foundry for the financial services industry. Mphasis' expertise in AWS services and AI/ML capabilities, combined with their dedication to industry-specific solutions, aligns seamlessly with our mission to enable business transformation with cloud computing and the transformative capabilities of generative AI. We anticipate the Gen AI Foundry enabling businesses to leverage AWS's advanced AI and machine learning services for enhanced experience and greater efficiency in today's competitive landscape.”

Mphasis is an information technology (IT) solutions provider specializing in cloud and cognitive services.

The scrip fell 0.01% to ends at Rs 2445.15 on Friday, 12 April 2024.

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Mphasis announced a multi-year global Strategic Collaboration Agreement (SCA) with Amazon Web Services (AWS). The collaboration marks a significant milestone as Mphasis establishes the Gen AI Foundry, led by Mphasis.AI, a dedicated business unit focusing on artificial intelligence (AI) solutions, AI use case assessments, consulting, and business transformation.

The Gen AI Foundry will serve as a dynamic platform for modeling industry use cases and developing proof of concepts (POCs) initially within the financial services Industry, with plans to expand across other sectors. This virtual forum will offer clients the opportunity to experience demos and POCs either at the Mphasis Experience Centre in NYC or AWS Executive Briefing Center (EBC) in NYC, providing a showcase of generative AI solutions tailored to the client's needs and objectives.

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Mphasis Ltd gained for a third straight session today. The stock is quoting at Rs 2499.7, up 1.27% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.24% on the day, quoting at 22507.2. The Sensex is at 74136.28, up 0.31%. Mphasis Ltd has slipped around 3.88% in last one month.

Meanwhile, Nifty IT index of which Mphasis Ltd is a constituent, has slipped around 5.62% in last one month and is currently quoting at 34793.95, up 1.22% on the day. The volume in the stock stood at 1.47 lakh shares today, compared to the daily average of 4.83 lakh shares in last one month.

The benchmark April futures contract for the stock is quoting at Rs 2505.35, up 0.96% on the day. Mphasis Ltd is up 37.68% in last one year as compared to a 28.19% spurt in NIFTY and a 21.54% spurt in the Nifty IT index.

The PE of the stock is 29.62 based on TTM earnings ending December 23.

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Mphasis will hold a meeting of the Board of Directors of the Company on 25 April 2024.

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