Infosys shares rally 4%; adds over Rs 6,000 cr to m-cap
Shares of Infosys on Thursday ended with a nearly 4 percent gain, adding over Rs 6,000 crore to its market value ahead of its quarterly results, to be announced Friday.
Mumbai: Shares of Infosys on Thursday ended with a nearly 4 percent gain, adding over Rs 6,000 crore to its market value ahead of its quarterly results, to be announced Friday.
After surging 4.26 percent to Rs 2,933.30 in intra-day trade, the stock finally ended at Rs 2,917.85, up 3.72 percent on the BSE.
At NSE, the IT major's scrip rose by 3.53 percent to Rs 2,915.
The market capitalisation of Infosys jumped Rs 6,007 crore to Rs 1,67,553 crore.
On the volume front, 1.50 lakh shares were traded on the BSE, while over 21.27 lakh shares changed hands on the NSE.
Rise in the stock was instrumental in sending the BSE benchmark Sensex higher by 127.75 points to 18,542.20.
Infosys contributed 59.81 points in the Sensex gain.
The earnings season will start with Infosys announcing its fourth quarter results tomorrow.
Traditionally, January-March is a soft quarter for IT companies as budgets get closed and decisions are taken between February and March on the kind of discretionary, operational and capital spending.