New Delhi: Shares of 3i Infotech jumped to 3.65 per cent 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 hour filing on June 13.
“This partnership aims to establish a path-breaking AI lab on campus. The collaboration will foster a mutually beneficial relationship for both the partners through promoting knowledge exchange, research opportunities, and academic growth,” it added.
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 per cent this year. 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.
