Infosys reaches Rs 7 trillion in market cap for first time

During the quarter, the company took into account 22 massive deals worth $2.6 billion, out of which nine belonged to financial services.

On Tuesday, Infosys Ltd became the fourth Indian firm to achieve a market cap of ₹7 trillion in capitalization after a sudden gush of shares of over 71% in the last year.

The stock reached a record height of ₹1644.05 on BSE at a capitalization score of ₹7.01 trillion. At ₹1644, the trading rate was 0.7% from its previous close, which later gained a sudden spike of 31%. This surge started forming its roots since the firm increased its fiscal year 2022 revenue model to 14-16% on a continual currency basis from 12-14% earlier and simultaneously, uphold operating margins at 22-24%.

On 18 July, Infosys showcased its first-quarter earnings of ₹27896 crore, backed by sturdy growth across various divisions. “Infosys has posted amazing Q1FY22 ratios. Management culminated in the fact that the cloud is becoming a tactical priority for all industries. We believe Infosys, given its strong presence in the cloud and digital transformation, will remain a major beneficiary of this tech-upcycle which is going to last for three-four years”, added Edelweiss Securities in a message to its investors.

During the quarter, the company took into account 22 massive deals worth $2.6 billion, out of which nine belonged to the financial services, four to the retail & energy, utilities, resources and services, two to the manufacturing unit, and one each in communications, high-tech & life sciences segments.

Source Mint
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