Infosys Hits Record High, Market Capitalisation Tops $100 Billion

Infosys shares have so far this year rallied 40 per cent, massively outperforming the Sensex which has advanced 16.6 per cent.

Shares of the country's second largest information technology company, Infosys, rose nearly 1 per cent to hit record high of Rs 1,755.60 on the BSE. With today's rise in Infosys' share price the market capitalisation of the Bengaluru-based IT company crossed Rs 7.45 lakh crore ($100 billion). Infosys became India's fourth company to enter $100 billion club after Reliance Industries, Tata Consultancy Services and HDFC Bank, data from stock exchanges showed. Infosys shares have so far this year rallied 40 per cent, massively outperforming the Sensex which has advanced 16.6 per cent. Information technology shares have been witnessing steady buying interest from investors as rising demand for digitalisation and transformation to cloud computing in the wake of work from home concept amid COVID-19 pandemic has spurred business for IT companies, analysts said. The measure of IT shares on the National Stock Exchange, Nifty IT index, has jumped 41.28 per cent leading the rally in world-beating stock market rally in Indian equity markets.