Indian stock markets experienced a downturn for the third consecutive day on Tuesday, with the BSE Sensex and NSE Nifty 50 closing lower by 0.52% and 0.62%, respectively. Despite this general downward trend, the markets trimmed some of their earlier losses. On the sectoral front, most indices closed in the red, except Nifty FMCG and Nifty IT.
Nifty IT Rises with Strong Performance from Infosys and TCS
Amidst the market downturn, the Nifty IT index stood out, closing above its prior trading session’s high. The strong performance of Tata Consultancy Services (TCS) and Infosys was a significant contributor to this positive movement. Infosys stock closed at Rs 1,440.95 per share on the NSE, up by 1.06% on Tuesday and close to its 20-day moving average (DMA).
Infosys Receives ISO 42001:2023 Certification for AI Management
Infosys, a global leader in next-generation digital services and consulting, has announced a significant milestone. The company received the ISO 42001:2023 certification, the world’s first international standard for Artificial Intelligence Management Systems (AIMS), from TUV India, part of the TÜV Nord Group. This certification positions Infosys as one of the first IT services companies globally to achieve this recognition, highlighting its commitment to responsible AI practices.
Infosys Topaz Responsible AI Suite and ISO Certification
The ISO 42001:2023 certification reflects Infosys’s efforts in implementing a robust AIMS framework. It demonstrates the company’s dedication to responsible AI practices, effective risk mitigation, and compliance with regulatory requirements. The framework is part of the Infosys Topaz Responsible AI Suite, designed to scan, shield, and steer AI models and systems against risks and threats, ensuring responsible AI adoption across enterprises.
Stock Performance and Future Outlook
While Infosys experienced a positive day in the market, its stock performance over the last three months has declined by 14.93%. On a year-to-date (YTD) basis, the stock has seen a decrease of 6.61%. The stock is currently trading at a price-to-earnings (PE) ratio of 23X, which is close to its June 2023 PE value.
Despite the recent downturn, the ISO certification and Infosys’s commitment to responsible AI practices signal a promising future for the company’s AI-related initiatives. As the market stabilizes, investors may look to Infosys’s pioneering role in AI management as a key factor in its potential for growth and resilience.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
