Infosys Ltd set to beat ITC Ltd with biggest weighting on BSE Sensex

Written by Reuters | Updated: Dec 20 2013, 20:54pm hrs
Infosys LtdWhile Infosys share price jumped, ITC Ltd, a bet on domestic consumption, fell 11.7 percent. Reuters
India's Infosys Ltd is poised to overtake ITC Ltd as the stock with biggest weighting in the benchmark BSE Sensex index and broader NSE Nifty index.

Infosys Ltd weighting in the BSE index currently stands at 9.70 percent, only 15 basis points away from 9.85 percent for ITC Ltd, data shows.

In the NSE index, Infosys' weighting stands at 8.41 percent compared with 8.58 percent for ITC.

Software exporter Infosys share price rose 16.4 percent in the last 3 months on rupee depreciation and hopes of higher business from the United States, while ITC Ltd, a bet on domestic consumption, fell 11.7 percent in the same period on valuations and a slowing economy.

Infosys overtook Reliance Industries (RIL) as the stock with second-biggest weighting in the benchmark index in October.

Infosys Ltd shares were up 1.2 percent after earlier touching a record high of 3,557.60 rupees.