17 Sep 2024

Firstsource Solutions Shares Rise on Partnership with Microsoft

Firstsource Solutions is seeing a boost in its stock price, trading at Rs. 314.00, up by 6.65 points or 2.16% from its previous close of Rs. 307.35 on the BSE. The stock opened at Rs. 317.55, with a high of Rs. 318.00 and a low of Rs. 312.05 during the day. So far, 70,264 shares have been traded.

A BSE 'A' group stock with a face value of Rs. 10, Firstsource hit a 52-week high of Rs. 343.85 on August 20, 2024, and a low of Rs. 148.40 on October 26, 2023. The scrip’s weekly high and low stand at Rs. 333.45 and Rs. 301.65, respectively, with a market capitalization of Rs. 21,690.65 crore.

Promoters hold 53.66% of the company, while institutional investors hold 28.88%, and non-institutional investors hold 17.47%.

The company's recent collaboration with Microsoft is aimed at delivering advanced digital transformation solutions globally. Leveraging Microsoft's Azure OpenAI Service, Firstsource plans to enhance its offerings by introducing generative AI solutions and business platforms that utilize Azure AI Search and Azure AI Language. These tools will allow businesses to unlock valuable enterprise data, providing multi-modal search experiences that boost efficiency and personalization.

This partnership aligns with Firstsource's AI-focused platform relAI, reinforcing its mission to drive technological innovation. Clients of Firstsource will benefit from improved operations, better decision-making, and personalized services using natural language processing and advanced AI technologies.

Firstsource Solutions continues to be a global leader in business process management services.