Infosys Joins Rs 2 Lakh cr Market-cap Club - The New Indian Express

Infosys Joins Rs 2 Lakh cr Market-cap Club

Published: 20th December 2013 07:51 PM

Last Updated: 20th December 2013 07:51 PM

 IT bellwether Infosys today saw its market value cross Rs 2 lakh crore, becoming the country's sixth company to reach this milestone.

TCS, Reliance, ITC, Coal India and ONGC are other five companies that have market cap of over Rs 2 lakh crore.

At the end of today's trade, Infosys' market value stood at Rs 2,03,985 crore.

The company's stock ended the day at Rs 3,552.30, up 1.08 per cent on the BSE. In intra-day trade, the stock hit its 52-week high level at Rs 3,569.90, up 1.57 per cent.

The country's most valued company TCS currently has a market cap of Rs 4,15,162 crore.

Infosys' stock has gained nearly 54 per cent so far this year. The company had recalled its founder N R Narayana Murthy in June and its share price has also gained considerably since then.

On the other hand, Infosys has witnessed an exodus of senior-level executives since Murthy's return.

In the eighth top-level exit at India's second-largest software exporter in the past six months, V Balakrishnan, a member of the Infosys board, has resigned.

Balakrishnan, who joined Infosys in 1991, was considered by some as the next chief executive officer after current CEO S D Shibulal retires in 2015.

Overall, IT stocks have been on an uptrend over the past few days, following weakness in rupee and rebound in the US, their major market.

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