A joint venture agreement has been entered between Infosys and Saudi Prerogative Company (SPC) for IT services in Saudi Arabia.

The company has said in a regulatory filing that Infosys will be holding 70 percent interest in the joint venture whereas SPC will have the remaining 30 percent.

The agreement is subject to approval of Saudi Arabian General Investment Authority.

Read EquityPandit’s Technical Analysis on Nifty IT