Infosys extends recent gains

Infosys was up 0.64% to Rs 1,193.40 at 9:28 IST on BSE, extending gains for fourth trading session in a row.

Meanwhile, the S&P BSE Sensex was up 35.73 points, or 0.11% to 33,953.67.

On the BSE, 10,000 shares were traded in the counter so far compared with average daily volumes of 2.85 lakh shares in the past two weeks. The stock had hit a high of Rs 1,195 and a low of Rs 1,176.20 so far during the day. The stock hit a 52-week high of Rs 1,220 on 24 January 2018. The stock hit a 52-week low of Rs 861.50 on 22 August 2017.

Shares of Infosys has risen 4.43% in four trading sessions to its current market price of Rs 1,193.40, from a close of Rs 1,142.80 on 7 March 2018.

Infosys announced its intention to voluntarily delist its American Depository Shares (ADS) from the Euronext Paris and Euronext London exchanges. The announcement was made after market hours yesterday, 12 March 2018.

The primary reason for seeking the proposed delisting is the low average daily trading volume of Infosys ADS on these exchanges, which is not commensurate with the related administrative requirements. During the 5-year period of the company's listing on Euronext Paris and Euronext London, the average daily trading volume of the company's ADS was significantly lower than its average daily trading volume on the New York Stock Exchange (NYSE). The proposed delisting is subject to approval from Euronext Paris S.A. and Euronext London. There will be no change to the Infosys share/ADS count, capital structure and float, as a result of the proposed delisting from the above exchanges.

Infosys ADS will continue to be listed on the NYSE and investors can continue to trade their ADS on the NYSE as before.

On a consolidated basis, Infosys' net profit rose 37.65% to Rs 5129 crore on 1.29% growth in net sales to Rs 17794 crore in Q3 December 2017 over Q2 September 2017.

Infosys is a global leader in technology services and consulting.

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