Infosys becomes 4th Indian company to touch $100-billion market cap

IT major Infosys on Tuesday became the fourth Indian firm to hit a market capitalisation of $100 billion. With this, the Bengaluru-based firm joined the elite club which includes companies like Tata Consultancy Services, Reliance Industries and HDFC Bank.

Infosys achieved the milestone in the morning trade when the scrip hit its 52-week high value of Rs 1,755.6, which took the market value of the firm to Rs 7.48 lakh crore or $100.78 billion. However, shares of the company pared all of the day’s gains and closed 1.06% down at Rs 1,720.75. At closing, market capitalisation of Infosys stood at Rs 7.30 lakh crore.

In terms of traded volume, 2.27 lakh shares were traded on the BSE while 76.02 lakh scrips changed hands on the NSE, during the trading session.

Meanwhile, Infosys announced the signing of a new minimum three-year contract with UCAS, the admissions service for UK higher education.

As part of the new agreement Infosys will provide a wide range of digital services that will enable UCAS to further develop the capabilities that connect learners to universities, awarding bodies, schools, and other organisations, built on a dynamic digital suite of systems able to rapidly respond to the evolving UK higher education sector.

Infosys will continue to concentrate on helping UCAS achieve its ambitious targets on lowering costs, optimising, and enhancing services for students, delivering more robust security, and providing business-as-usual (BAU) services between legacy and new digital systems.

With a market capitalisation of Rs 13.84 lakh crore, Reliance Industries is the most valued firm. It was followed by TCS at Rs 13.36 lakh crore and HDFC Bank at Rs 8.72 lakh crore. RIL and HDFC Bank closed 0.94% and 2.31% higher at Rs 2182.80 and Rs 1558.75, respectively, while TCS settled 0.65% lower at Rs 3,612.20.