Infosys share price rallied more than 5% in the morning deals to an all-time high on Monday and the company breached Rs 3 lakh crore m-cap for the first time ever after India's second-largest IT firm announced a bonus issue of equity shares in a ratio of 1:1.
Infosys share price rallied more than 5% in the morning deals to an all-time high on Monday and the company breached Rs 3 lakh crore m-cap for the first time ever after India’s second-largest IT firm announced a bonus issue of equity shares in a ratio of 1:1. The board of directors of the Bengaluru-based IT giant Infosys on Friday approved a bonus issue of equity shares to mark the 25th year of stock market listing. Earlier last week on Friday only, Infosys reported the financial results for the period of April-June of FY19 which were in-line with the street expectations.
The stock of Infosys emerged as the biggest gainer among the components of the BSE Sensex index on Monday after opening 1% higher at Rs 1,325 on BSE and starting flat at Rs 1,317.4 on NSE. Infosys share price surged 5.75% to an all-time high of Rs 1384.4 on BSE today. Unusually higher trading volumes were seen in Infosys shares on Monday, as at 10:31 am, more than 1.29 crore equity shares got exchanged on both BSE and NSE.
Following a sharp surge in the share prices, Infosys breached Rs 3 lakh crore in m-cap for the first time. Infosys on Monday added Rs 17,114 crore in the market capitalisation. At the all-time high share price of Rs 1,384.4, Infosys commands a market capitalisation of Rs 303038.53. At Friday’s closing, Infosys held a market capitalisation of Rs 2,85,924.08 on BSE.
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Infosys has informed that the bonus issue of equity shares will be credited/dispatched within 2 months from the date of board’s approval by 12 September 2018. Infosys has posted a rise of 3.5% Y0Y in the net profit to Rs 3,612 crore for the first quarter of the financial year 2018-2019.
Infosys shares have been one of the top performers in 2018 so far out of the total constituents of Sensex and Nifty indices. The stock o of Infosys has returned 26.42% to Rs 1,317.4 from a share price level of Rs 1,042.05 on NSE.