Infosys m-cap hits Rs 5 lakh crore, becomes 5th stock to cross the mark

Infosys has become the fifth stock on BSE to cross the market-capitalization mark of Rs 5 lakh crore after its shares soar about 2 percent to hit a 52-week high of Rs 1,209.50 in intraday trade on BSE on December 21, after Reliance Industries, TCS, HDFC Bank and Hindustan Unilever.

The company on December 18 said it has divested one-third of its holding in US-based Whoop Inc for about $10 million (about Rs 73.5 crore). In 2015, Infosys had announced making a $3 million investment in US-based wearable device startup Whoop for a minority shareholding in the company.

“The company had made a minority investment of $3 million during December 2015 in Whoop Inc, the human performance company headquartered in Boston, USA. The company would like to inform you that it has divested one-third of its holding for about $10 million,” Infosys said in a filing on Friday.

Shares of the company traded 1.13 percent higher at Rs 1,203.15 on BSE at 1135 hours.

Among the stocks that touched their 52-week highs on NSE last week were Tata Consultancy Services; Infosys; L&T Technology Services; AGC Networks; Asian Paints; Brigade Enterprises; Divi’s Laboratories; Hindustan Copper; Narayana Hrudayalaya; Sundaram Finance.

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