The country’s most cash-rich information technology (IT) firm Infosys has doubled its investments in liquid debt mutual funds to Rs 4,986 crore — the highest in nearly three years. At the same time, bank deposits remained almost stagnant at Rs 14,569 crore as on September 30, 2012, compared with Rs 15,267 crore at the end of June, according to the company’s latest quarterly financial accounts.
Infosys’ investments in debt-focused liquid mutual fund schemes rose sharply in the July-September quarter, from Rs 2,161 crore at the end of the previous three-month period. Large companies use the liquid MFs to park cash for short term and also earn good returns, while waiting to deploy the funds for future projects. At nearly Rs 5,000 crore, Infosys’ current investment level in liquid mutual funds is the highest for the debt-free firm in as many as 11 quarters.
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