On Tuesday, the Infosys ADR (Infy) opened at $134.125 and touched a high of $138.25 in the opening session with a volume of 69,800 ADRs. The Infy had closed at $131.375 on Monday, up $15.5 from Friday's close of $115 7/8 with a volume 1.24 lakh ADRs. The ADR price of $131.375 is now at a 50 per cent premium to the domestic market price of Rs 7625.

The Infosys chairman and CEO has said in his interview to Nasdaq Amex that the company ``wanted touse the listing on Nasdaq as an instrument for acquisition.''

``We would probably be looking at companies in the US and elsewhere. We would consider companies that would add to our strength as a software services company; companies with specialised expertise that will give us some intellectual property, processes and tools,'' elaborates Murthy in the interview.

``With the second quarter results of the company due on October 8 coupled with the shift to defensive stocks, players are accumulating Infosys. There are rumours abound in the counter - from a takeover in the US to a bonus issue,'' said a market participant. There are already murmurs of a stock split in the Infosys scrip with the market speculating a split of 1:5. ``At the current levels, the stock split will bring down the price to Rs 1500-levels,'' said a market participant. Besides, the market expects yet another encore from second heaviest stock in the Sensex in the second quarter of the current fiscal. ``The bullishness at the counter ispartly because the company's income from the high growth internet-related services is likely to be 12 per cent of the total business against 6 per cent earlier,'' says a software analyst. In the last 14 trading sessions, the stock has risen 40 per cent from a level of Rs 5450.