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.
Follow our live blog for all the market action
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.
Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
