Birlasoft shares rebound after announcement of Microsoft collaboration
Birlasoft share: Following weakness in IT stocks after weak Q1 results 2023 by leading Indian IT companies — Infosys, TCS, Wipro and HCL Tech — Birlasoft shares witnessed huge sell off pressure during early morning deals on Monday. However, Birlasoft share price bounced back strongly from intraday lows after announcement of IT company collaborating with Microsoft to establish generative AI centre of excellence, driving value creation and innovation.
Birlasoft share price today opened downside and went on to hit intraday low of ₹379.85 apiece levels on NSE, logging near 1.50 per cent intraday loss against its Friday close of ₹385.60 on NSE. However, the stock recovered strongly and came around ₹383.75 apiece levels, less than 0.50 per cent away from its previous session's close.
Birlasoft inform Indian stock market bourses about the Microsoft collaboration citing, "Birlasoft has established a Generative AI Centre of Excellence, in collaboration with Microsoft. This strategic initiative aims to accelerate value creation and foster innovation in the adoption of Generative AI, to deliver cutting‐edge enterprise solutions across industries." "The Generative AI Centre of Excellence brings together the combined strengths of Birlasoft's deep industry expertise and Microsoft Azure OpenAI Service.
It will serve as a hub for Birlasoft and Microsoft experts to facilitate research, training, and collaboration. Through this collective ecosystem, organizations will be empowered to unlock the full potential of Generative AI, enabling them to develop tailored solutions to address complex business challenges," Birlasoft added.
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