Shares of Infibeam Avenues Ltd rose to their 52-week high today after the firm unveiled its ground-breaking Artificial Intelligence (AI) product, THEIA - a pioneering Video AI Developer Platform. The state-of-the-art video AI platform will revolutionise the way business organisations, institutions, and governments leverage artificial intelligence for enhanced productivity and efficiency, said Infibeam Avenues.
Infibeam Avenues stock gained 6% to Rs 42.50 against the previous close of Rs 40.15 on BSE. Market cap of the firm rose to Rs 11,180 crore.
The stock fell to a 52-week low of Rs 12.85 on March 28, 2023.
A total of 117.64 lakh shares of the firm changed hands amounting to a turnover of Rs 48.13 crore on BSE.
In terms of technicals, the relative strength index (RSI) of the stock stands at 66.8, signaling the stock is trading neither in the overbought nor in the oversold zone. Infibeam Avenues shares are trading higher than the 5 day, 20 day, 50 day, 100 day moving averages.
“THEIA is designed to cater to a diverse range of industries, where advanced video AI analysis capabilities transcend traditional boundaries. This is a pioneering and versatile video AI platform that empowers organizations to harness the power of AI video analysis for applications in areas such as sports analytics, media optimisation, traffic management, crowd control, insurance claims processing, optimization of manufacturing units, retail stores and other industries as well as government applications,” said the financial technology firm.
Rajesh Kumar SA, CEO of Phronetic.AI, an artificial intelligence business unit of Infibeam Avenues said, "We are thrilled to announce one of the World's First Video AI Developer Platform – THEIA, set to revolutionise the utilisation of video (CCTV) data. Beyond security, videos will now serve as powerful tools for enhancing productivity, workforce efficiency, and decision-making across businesses, government entities, and organisations. The era of video data transformation has begun."