On Monday, the shares of the Fintech firm soared 6 percent to a 52-week high price of ₹42.50 per share after the company unveiled an AI product to harness the power of AI for enhanced productivity and efficiency in the applications of various sectors.
At 2:25 p.m, Infibeam Avenues Ltd. shares were trading at ₹40.39 a share, a 0.60 percent increase over the previous close price. The company is valued at ₹11,250 crore on the stock exchange.
Infibeam Avenues Ltd. unveiled its artificial intelligence (AI) product, THEIA, a pioneering video AI developer platform. This state-of-the-art video AI platform to revolutionize the way business organizations, institutions, and governments leverage artificial intelligence for enhanced productivity and efficiency.
THEIA is a versatile AI platform tailored for various industries, enabling organisations to leverage the potential of AI video analysis. Its applications span diverse sectors, including sports analytics, media optimisation, traffic management, crowd control, insurance claims processing, manufacturing unit optimization, retail stores, and government applications.
Recently, the company signed a Memorandum of Understanding (MoU) with the Gujarat government for a proposed investment of ₹2,000 crore in its Artificial Intelligence (AI) Hub at GIFT City by the financial year 2030.
Infibeam Avenues Ltd. shares have delivered a multibagger return of 118 percent in the last six months and 162 percent in a year. For example, a shareholder investment of ₹ 1 lakh in the company would be worth ₹ 2.62 lakhs.
Infibeam Avenues Ltd. is in the business of software development services, maintenance, web development, payment gateway services, e-commerce, and other ancillary services.
The company operates an online payment system with technology platform solutions across industry verticals and as a payment processor for online merchants, websites, and commercial users.
The firm operates in five countries: India, the UAE, the Kingdom of Saudi Arabia, Oman, and the United States, and its payment gateway is utilized by over 5,000,000 merchants in India and international markets.
Reliance General Insurance, Amul, J.P. Morgan, Bisleri, Paytm, ITC Hotels, Indigo Airlines, and many more are among the company’s well-known marquee clients.
Infibeam Avenues Ltd. revenues have increased by 120 percent year on year from ₹415 crore in Q3 FY23 to ₹912 crore in Q3 FY24, while net profit has increased by 17 percent from ₹ 35 crore to ₹ 41 crore.
Written by Omkar Chitnis
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