Infosys gains on reports of pact with a US-based venture capital firm

Infosys rose 0.88% to Rs 1,117.95 at 10:29 IST on BSE on media reports the company has partnered with US-based venture capital firm Vertex Ventures US Fund I LP to boost its access to start-ups focused on new-age technologies.

Meanwhile, the S&P BSE Sensex was down 300.46 points or 1.17% at 25,316.38.

On BSE, so far 47,000 shares were traded in the counter as against average daily volume of 1.90 lakh shares in the past one quarter.

The stock was volatile. The stock rose as much as 1.68% at the day's high of Rs 1,126.85 so far during the day. The stock fell as much as 0.92% at the day's low of Rs 1,098 so far during the day. The stock had hit a record high of Rs 1,186 on 19 August 2015. The stock had hit a 52-week low of Rs 900 on 10 October 2014.

The stock had outperformed the market over the past one month till 28 September 2015, sliding 0.23% compared with Sensex's 2.94% fall. The scrip had also outperformed the market in past one quarter, surging 10.15% as against Sensex's 7.89% fall.

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

According to media reports, Infosys partnered with US-based venture capital firm Vertex Ventures US Fund I LP to boost its access to start-ups focused on new-age technologies. Infosys Innovation Fund has an outlay of $500 million, reports suggested. Vertex Ventures has already invested in four early-stage start-ups, including California-based storage start-up Hedvig, and Silicon Valley-based cloud security start-up PerimeterX, as per reports.

Infosys' consolidated net profit fell 2.16% to Rs 3030 crore on 7.03% growth in net sales to Rs 14354 crore in Q1 June 2015 over Q4 March 2015.

Infosys is a global leader in consulting, technology, and outsourcing and next-generation services.

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