Infosys on Tuesday joined the elite club of companies with Rs 7-trillion market capitalization (m-cap) on the BSE after its share price hit a new high of Rs 1,646.40 in the intra-day deals.
The stock of the information technology (IT) consulting & services company has outperformed the market in the past two weeks, by gaining 7 per cent, after Infosys raised its revenue growth guidance for financial year 2021-22 (FY22) buoyed by a robust deal pipeline. In comparison, the S&P BSE Sensex was up 1.5 per cent during the same period.
Shares of Infosys hit a fresh record high of Rs 1,597.25, up 1.3 per cent on the BSE in the intra-day trade on Thursday, after the country’s second-largest information technology (IT) services player on Wednesday raised its revenue growth guidance for financial year 2021-22 (FY22) buoyed by a robust deal pipeline.
The stock surpassed its previous high of Rs 1,590.85 touched on June 30, 2021. In the past one year, Infosys has outperformed the market by zooming 103 per cent, as compared to a 47 per cent rally in the S&P BSE Sensex.
Shares of Infosys rose 1 per cent to hit a record high of Rs 1,484.10 on the BSE in intra-day trade on Wednesday in an otherwise subdued market. The stock of the information technology (IT) major surpassed its previous high of Rs 1,480 touched on April 12, 2021.
Infosys was trading higher for eight straight days. At 01:25 pm, the stock was up 0.45 per cent at Rs 1,479.45, as compared to a 0.41 per cent decline in the S&P BSE Sensex.
Shares of Infosys hit a fresh record high of Rs 1,425 after rising nearly 3 per cent on the BSE in intra-day trade on Monday, which propelled the company's market capitalisation (market-cap) beyond Rs 6 trillion mark. The stock surpassed its previous high of Rs 1,406.25, touched on March 16, 2021.
At 10:01 am, Infosys was trading 2 per cent higher at Rs 1,411.80, with a market-cap of Rs 6.01 trillion, the BSE data shows. In comparison, the S&P BSE Sensex was down 2 per cent or 1,030 points at 48,999. In the past two months, Infosys has outperformed the market by surging 12 per cent, against 3 per cent decline in the benchmark index.
Shares of information technology (IT) companies, on Tuesday, were in focus at the bourses, with six stocks, Infosys, Mindtree, L&T Technology Services (LTTS), Sonata Software, Coforge and Intellect Design Arena from the S&P BSE IT index hitting their respective record highs in intra-day trade on expectation of strong earnings.
At 10:04 am, the S&P BSE IT index, the top gainer among sectoral indices, was up 1.5 per cent, as compared to 0.35 per cent rise in the S&P BSE Sensex.
Shares of information technology (IT) companies were in focus at the bourses on Wednesday with both Tata Group stocks - Tata Consultancy Services (TCS) and Tata Elxsi – hitting their respective new highs on the National Stock Exchange (NSE).
At 10:20 am, the Nifty IT index -- the top gainer among sectoral indices -- was up 2.4 per cent, as compared to 0.37 per cent rise in the Nifty50 index.
Shares of information technology (IT) companies continued their northward journey at the bourses, with the Nifty IT and the S&P BSE IT indices hitting their respective fresh record highs on Wednesday amid hopes of more large deal wins, which would further help accelerate the sector's growth momentum.
Tata Consultancy Services (TCS), Infosys, HCL Technologies, Tech Mahindra, Larsen & Toubro (L&T) Infotech and MphasiS from the Nifty IT index hit their respective fresh record highs. Birlasoft and Persistent Systems from the non-index stocks, too, hit new highs today.
The key Indian equity indices hit fresh record highs on Tuesday morning in line with global market after US pharma major Moderna announced that its COVID-19 vaccine has recorded 94.5 per cent effectiveness.
Sensex crossed the 44,000-mark and touched a record high of 44,161.16 points.
Shares of Infosys hit a fresh record high of Rs 1,185, up 4 per cent on the BSE in early morning trade on Thursday after the company reported healthy set of July-September quarter (Q2FY21) numbers on revenue and profitability front. The company has revised its FY21E revenues guidance upwards from 0-2 per cent year on year (YoY) to 2-3 per cent YoY in constant currency basis & operating margin guidance to 23-24 per cent from 21- 23 per cent.
Global software major Infosys on Thursday announced it has acquired US-based product design firm Kaleidoscope Innovation for $42 million (Rs 309 crore) to expand its engineering service offerings in medical devices, consumer and industrial markets across America.
Our subsidiary Infosys Nova Holdings has signed an agreement to acquire 100 per cent equity capital of Kaleidoscope for $42 million, said the city-based $13-billion IT major in a statement from Ohio's Cincinnati in the US midwest.
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