Why Infosys share price is rising today — explained
Stock market today: Infosys shares have been witnessing buying interest since early morning deals on Wednesday. Infosys share price today opened with an upside gap at ₹1,410.80 apiece levels on NSE and went on to hit intraday high of ₹1,419.50 per share levels, logging near 2 per cent rise against its Monday close of ₹1,393.55 per share.
According to market experts, Infosys has declared big deal on 15th August 2023 in which it has collaborated with Nasdaq tech major Liberty Global. In this collaboration, two tech entities have joined together to bring Air Intelligence (AI) powered digital entertainment to customers and drive significant efficiencies on technology costs.
They said that market is responding to this development and that's why Infosys shares are rising in early morning deals. On why Infosys share price is receiving buying interest today, Saurabh Jain, Vice President — Research at SMC Global Securities said, “Recently, HCL Tech announced collaboration with global tech giant Verizon Business.
This has already bring momentum in Indian IT company stocks. After this, Infosys sealed a deal with Liberty Global, which has further boosted the morale of stock market bulls in regard to IT stocks." SMC Global Securities expert went on to add that rally can be a new beginning of buying interest in Indian IT segment as two big deals by two big Indian IT companies have signaled that IT companies are getting orders and the situation is not that much bad as the market has been expecting after the outbreak of Russia-Ukraine war last year.
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