Infosys gains after announcing investment in a sports technology firm

Infosys rose 1.01% to Rs 1,062.95 at 11:45 IST on BSE after the company said that it has made an investment of $3 million in WHOOP Inc., an early stage company in the US.

The company made the announcement during market hours today, 14 December 2015.

Meanwhile, the S&P BSE Sensex was up 56.50 points or 0.23% at 25,100.93.

On BSE, so far 48,039 shares were traded in the counter as against average daily volume of 1.83 lakh shares in the past one quarter.

The stock hit a high of Rs 1,066 and a low of Rs 1,049 so far during the day. The stock had hit a record high of Rs 1,219 on 12 October 2015. The stock had hit a 52-week low of Rs 932.55 on 10 July 2015.

The stock had underperformed the market over the past one month till 11 December 2015, sliding 5.12% compared with Sensex's 3.18% fall. The scrip had also underperformed the market in past one quarter, declining 3.52% as against Sensex's 2.21% fall.

The large-cap company has equity capital of Rs 1148.47 crore. Face value per share is Rs 5.

Infosys said that it has made an investment of $3 million in WHOOP Inc., a Delaware Corporation. WHOOP is an early stage company, offering a performance optimization system for elite professional sports teams. It was originally incorporated on 31 December 2011 with presence in the US. Infosys said that the investment in WHOOP Inc. will be completed by 16 December 2015. Infosys will have a minority holding in WHOOP, not exceeding 20% of its outstanding share capital.

WHOOP's system includes a device worn by athletes on their wrist that continuously measures key strain and recovery variables, and actionable analytics powered by proprietary algorithms that generate intensity and recovery scores. This enables athletes and coaches to gain visibility into the drivers of high performance, guide training and make optimal game day decisions.

Infosys' consolidated net profit rose 12.14% to Rs 3398 crore on 8.92% growth in net sales to Rs 15635 crore in Q2 September 2015 over Q1 June 2015.

Infosys is a global leader in consulting, technology and outsourcing solutions.

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