Shares of 3i Infotech jumped 3.65 percent to Rs 34.91 in early trade on June 14 after the IT firm's subsidiary signed a pact with SRM Valliammai Engineering College in Chennai to establish an AI (artificial intelligence) lab within the institute’s campus. NuRe FutureTech, a wholly-owned subsidiary of 3i Infotech, as the accelerator and transformation partner for the company signed a Memorandum of Understanding (MoU) with the Department of Computer Science at SRM Valliammai Engineering College, the company said in a post-market hours filing on June 13.
“This partnership aims to establish a path-breaking AI lab within the institute’s campus. The collaboration will foster a mutually beneficial relationship for both the partners through promoting knowledge exchange, research opportunities, and academic growth,” it added.
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In early 2022, 3i Infotech opened its office at the IIT Madras Research Park, Chennai to establish FutureTech business labs to work on next-gen technologies.
Shares of 3i Infotech are down nearly 15 percent this year till date. It touched a 52-week high of Rs 54.20 on September 12, 2022, and a 52-week low of Rs 25.93 on March 28,2023.
3i Infotech Limited, incorporated in 1993 and headquartered in Mumbai, provides information technology services and software solutions.
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