Software exporter Infosys saw its market value go past the Rs 6-trillion mark on Monday. Shares of the Bengaluru-based firm finished at a record high of Rs 1,140, valuing the company at Rs 600,817 crore. Infosys’ shares have outperformed the benchmark Sensex both on a year-to-date (YTD) and one-year basis, with a gain of 12.3 per cent and 2.2 times, respectively. In comparison, the Sensex is up 2.7 per cent and 63.5 per cent on YTD and one-year basis.
Investors have turned bullish on the stock on optimism that the company will bag large deals as demand for digital services is expected to grow in the post-pandemic world.
Infosys currently is the fourth-most valuable company in India behind Reliance Industries, Tata Consultancy Services and HDFC Bank. It’s market value is more than that of Hindustan Unilever and Housing Development Finance Corp.
The company is set to announce the results for the fourth quarter and year ended March 31, 2021 on April 14. For the March quarter, Infosys had reported consolidated net profit of Rs 5,197 crore, up 16.6 per cent over the same quarter of the previous year.
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