In 4 Years Since Nilekani's Return, Infosys Market Cap Climbs From $35B to $100B
Infosys has become the fourth Indian company to cross the market cap of $100 billion.
Four years after Chairman and co-founder Nandan Nilekani rejoined Infosys, the Bengaluru-based information technology firm crossed the $100 billion mark and touched a record-high of Rs 1,755.60 on the Bombay Stock Exchange (BSE) on Tuesday, 24 August.
When Nilekani joined the IT company on 24 August 2017, the company's share price was Rs 450, and the market cap stood at $35 billion.
The astonishing boost in the company's share price and market cap has also made Infosys the fourth Indian company to cross the market cap of $100 billion.
Before this, only Tata Consultancy Services (TCS), Reliance Industries Limited (RIL) and HDFC Bank had gone beyond the market cap of $100 billion.
Speaking to Mint, analysts have also said that the first exponential growth comes in view of it's broad-based traction in cloud, cyber security, customer experience, among others.
Additionally, the company's net profit spiked 23% annually to Rs 5,195 crore in the June quarter.
For the current fiscal year, the company management revised its revenue growth to 14-16%. As per Infosys, a strong Q1 growth, good order wins and a formidable deal pipeline resulted in the surge in company's shares, The News Minute reported.
(With inputs from Mint and The News Minute)
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