Infosys zooms as Vanguard planning to enter into partnership with the company

Infosys is currently trading at Rs. 836.50, up by 53.30 points or 6.81% from its previous closing of Rs. 783.20 on the BSE.
The scrip opened at Rs. 796.90 and has touched a high and low of Rs. 848.00 and Rs. 795.35 respectively. So far 557363 shares were traded on the counter.
The BSE group ‘A’ stock of face value Rs. 5 has touched a 52 week high of Rs. 848.00 on 15-Jul-2020 and a 52 week low of Rs. 511.10 on 19-Mar-2020.
Last one week high and low of the scrip stood at Rs. 848.00 and Rs. 772.00 respectively. The current market cap of the company is Rs. 360506.85 crore.
The promoters holding in the company stood at 13.15%, while Institutions and Non-Institutions held 55.69% and 13.80% respectively.
Vanguard is planning to enter into partnership with Infosys as part of its ongoing strategy to enhance and evolve its full-service defined contribution (DC) business. This strategic partnership will deliver a technology-driven approach to plan administration and fundamentally reshape the corporate retirement plan experience for its sponsors and participants.
Through the partnership, Infosys will assume day-to-day operations supporting Vanguard’s DC recordkeeping business, including software platforms, administration, and associated processes. Plan sponsors will continue to be served by Vanguard’s relationship management teams, strategic plan design, and communication experts. Additionally, Vanguard will oversee all aspects of its investment management and guidance for both sponsors and participants, including ongoing development of its accessible, holistic, and personal advice services. Participant phone calls will be serviced by both Vanguard and Infosys.
Together with Infosys, Vanguard will provide a cloud-based recordkeeping platform, enabling greater insights and unprecedented personalization to help deliver better outcomes for nearly five million participants and 1,500 sponsors. Planned enhancements for sponsors include AI-enabled analytics capabilities, improved visibility of participant behavior, and ubiquitous operational support. In addition, the partnership will accelerate Vanguard’s ongoing efforts to build a state-of-the-art participant experience, including a redesigned participant website, integrated advice, and intuitive technologies.
Infosys is a global leader in next-generation digital services and consulting.