Infibeam Avenues climbs on planning to foray into Artificial Intelligence
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Infibeam Avenues is currently trading at Rs. 14.99, up by 0.48 points or 3.31% from its previous closing of Rs. 14.51 on the BSE.
The scrip opened at Rs. 14.59 and has touched a high and low of Rs. 15.25 and Rs. 14.26 respectively. So far 2987034 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 20.30 on 15-Dec-2022 and a 52 week low of Rs. 12.85 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 15.45 and Rs. 14.26 respectively. The current market cap of the company is Rs. 4038.48 crore.
The promoters holding in the company stood at 30.63%, while Institutions and Non-Institutions held 6.17% and 63.21% respectively.
Infibeam Avenues is planning to foray into Artificial Intelligence (AI) to tap the burgeoning AI-enabled fraud detection market. The company to establish India’s first Artificial Intelligence (AI) HUB headquartered at Gujarat International Finance Tec-City (GIFT City) with an initial focus on fintech & financial sector building AI solutions for Fraud detection, Authentication and Risk identification (FAR) to nurture AI ecosystem & develop solutions for the domestic and global market.
The company plans to make a strategic investment in the next three years to build and nurture the AI HUB. This strategic move includes building an in-house talent pool by hiring AI engineers, data scientists, and other staff, initiating global collaboration and facilitating AI start-ups with access to funding, mentorship, infrastructure and business opportunity for growth.
Infibeam Avenues is engaged in providing online retail services.
