Infosys gains after joining IIC

Infosys rose 0.40% to Rs 1,942.25 at 9:43 IST on BSE after the company said it joined the Industrial Internet Consortium.

The announcement was made after market hours yesterday, 14 May 2015.

Meanwhile, the BSE Sensex was up 28.81 points, or 0.11%, to 27,234.87.

On BSE, so far 13,000 shares were traded in the counter, compared with an average volume of 1.78 lakh shares in the past one quarter.

The stock hit a high of Rs 1,959.50 and a low of Rs 1,935 so far during the day. The stock hit a record high of Rs 2,335.20 on 20 February 2015. The stock hit a 52-week low of Rs 1,447 on 30 May 2014.

The stock had underperformed the market over the past one month till 14 May 2015, falling 13.60% compared with 6.33% fall in the Sensex. The scrip had also underperformed the market in past one quarter, falling 15.76% as against Sensex's 6.49% fall.

The large-cap company has an equity capital of Rs 574.24 crore. Face value per share is Rs 5.

Infosys has joined the Industrial Internet Consortium (IIC), an open membership group established to improve the integration between the physical and the digital worlds and accelerate the adoption of Internet of Things. The goal of the consortium is to amplify the development and availability of connected, intelligent industrial automation.

As per International Financial Reporting Standards (IFRS), Infosys' consolidated net profit dropped 4.7% to Rs 3097 crore on 2.8% fall in revenues to Rs 13411 crore in Q4 March 2015 over Q3 December 2014. The consolidated net profit fell 4.6% to $498 million on 2.6% decline in revenues to $2159 million in Q4 March 2015 over Q3 December 2014.

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

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