Shares of Infosys Ltd surged 3.98% to Rs 1,420.00 on Monday, Feb 17 (as of 11:42 AM IST), emerging as one of the top gainers in the IT pack following a strategic artificial intelligence partnership announcement.
Strong rebound after last week’s correction
The rally comes after Indian IT stocks faced heavy selling pressure last week, with the Nifty IT index falling 8.2%its worst weekly performance in nearly 11 months. On Feb 17, the index rebounded nearly 2% in early tradesupported by strong buying in frontline stocks.
Strategic tie-up with Anthropic boosts sentiment
The key trigger for the surge was Infosys announcing a strategic partnership with artificial intelligence firm Anthropic. The company said it will collaborate to develop advanced AI solutions for enterprises, particularly in highly regulated industries such as banking, healthcare and public services.
The announcement follows Anthropic’s decision to open its first India office in Bengaluru, signalling a stronger focus on the Indian market.
Dario Amodei, CEO and co-founder of Anthropic, highlighted the importance of domain expertise in deploying AI effectively in regulated sectors, reinforcing investor optimism around Infosys’ enterprise capabilities.
Market and stock details
As per market data:
- Previous close: Rs 1,365.60
- Day’s range: Rs 1,367.00 – Rs 1,427.50
- Market capitalisation: Rs 5.89 lakh crore (approx.)
- P/E ratio: 21.06
- Dividend yield: 3.16%
The strong gains in Infosys also supported the broader market recovery, even as weakness in Reliance Industries and financial stocks kept headline indices largely flat.
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