Infosys gains as its arm bags contract from Delaware Department of Labor
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Infosys is currently trading at Rs. 1685.60, up by 32.55 points or 1.97% from its previous closing of Rs. 1653.05 on the BSE.
The scrip opened at Rs. 1675.05 and has touched a high and low of Rs. 1687.90 and Rs. 1666.85 respectively. So far 196199 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1731.00 on 06-Feb-2024 and a 52 week low of Rs. 1311.60 on 21-Jul-2023.
Last one week high and low of the scrip stood at Rs. 1687.90 and Rs. 1637.55 respectively. The current market cap of the company is Rs. 700011.24 crore.
The promoters holding in the company stood at 14.71%, while Institutions and Non-Institutions held 69.93% and 15.35% respectively.
Infosys’ North America-based subsidiary -- Infosys Public Services (IPS) has bagged contract from Delaware Department of Labor (Delaware) to revitalize the state’s unemployment insurance tax, benefits and appeals programs. Further, the Delaware Department of Labor has engaged Infosys Public Services to develop a new system for the paid family medical leave program. Delaware will leverage the Infosys LaborForce solution to create significant improvements in key state labor programs as well as bring value to Delaware constituents with a new program.
Existing Delaware legacy systems face operational inefficiencies and customer service barriers impacting the delivery of critical services in a timely manner. Infosys LaborForce, a Salesforce-based enterprise labor system, will enable the Department of Labor to provide best in class customer service and integrate unemployment insurance and paid family medical leave programs. Infosys LaborForce is a cloud-native solution, meeting most of the state requirements out of the box leveraging the Salesforce CRM and Low/No Code platform for accelerated development.
Infosys LaborForce leverages the proven Salesforce platform to deliver industry leading performance, enhance employee experience, build efficiency, and deliver new capabilities. The solution will also enable the agency to support new programs and functionality, enabling thorough and prompt adaptation to changing economic conditions. Infosys LaborForce will enhance the Department of Labor’s ability to anticipate and respond to data security threats and manage access, improving system security and reducing fraud.
The project has kicked off and the implementation has begun. The Delaware Department of Labor is also leveraging Project Management Office (PMO) and other IT services from CAI, a global services firm, to help ensure a smooth implementation. Infosys Public Services is excited to leverage CAI’s services and looks forward to an effective relationship.
Infosys is a global leader in next-generation digital services and consulting.
