Infosys rose 0.43% to Rs 930 at 9:20 IST on BSE after the company announced that it is strengthening its engineering footprint in Eastern Europe by opening its first office and delivery center in Karlovac, Croatia.
The announcement was made after market hours yesterday, 24 April 2017.Meanwhile, the S&P BSE Sensex was up 158.33 points, or 0.53% to 29,814.17.
On the BSE, 13,128 shares were traded in the counter so far, compared with average daily volumes of 2.61 lakh shares in the past one quarter. The stock had hit a high of Rs 932.60 and a low of Rs 920.50 so far during the day.
The large-cap company has equity capital of Rs 1148.47 crore. Face value per share is Rs 5.
Infosys said that in line with the company's strategy to establish global competency centers, offering the best talent in the market and making it available to customers globally, this delivery center (DC) also marks expansion into Eastern Europe's established heavy engineering sector. The new facility will meet near-shoring requirements, support engineering clients worldwide, as well as offer research & development (R&D) services.
The Karlovac facility in Croatia is the latest location across 16 regions in Europe which Infosys has opened as part of its ongoing commitment to client servicing and local job creation.
Ravi Kumar S., President and Deputy Chief Operating Officer, Infosys said that as part of strategy to increase geo capabilities, the Karlovac delivery center will deliver value to global clients, specifically in the Nordics. The focus will be on consolidating consulting, IT and engineering skills in the areas of power generation, design and development of large gas and steam turbines, digital solutions for service and maintenance, and development of advanced engineering software tools.
As the company continues to invest in developing global competency centers, tapping local talent and scaling those centers, the company will be looking to partner with local academic institutions, co-innovate with clients and nurture a partner ecosystem to help develop skilled workforce that will deliver next-generation services, the company said.
Infosys' consolidated net profit fell 2.8% to Rs 3603 crore on 0.9% decline in revenues to Rs 17120 crore in Q4 March 2017 over Q3 December 2016.
Infosys is a global leader in technology services and consulting.
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