The Infosys Technologies scrip yesterday crossed Rs 9,000 to hit new all-time highs on the Bombay and National stock exchan-ges. The rise pushed up Infosys' market capitalisation to Rs 30,391 crore, making it the third largest company in terms of market cap.
Infosys is now within striking distance of Reliance Industries, currently at the second position with a market cap of Rs 33,089 crore.
Hindustan Lever continues to retain the number one slot with a market cap of Rs 50,282 crore.
Infosys hit Rs 9,230 on the Bombay Stock Exchange (BSE) before closing at Rs 9,190, a gain of Rs 500. On the National Stock Exchange (NSE), it closed at Rs 9,195.20 after hitting Rs 9,285.45.
On the Nasdaq, Infosys' American depository receipt was quoted at $228.5 at 20:30 hours IST, with its market capitalisation touching $15.11 billion.
Infosys' domestic market capitalisation has risen by Rs 1,653 crore since Friday. It is now the number one software stock in terms of market capitalisation, with Wipro second at Rs 28,218 crore.
Volumes spurted yesterday, with 3.2 lakh shares changing hands on the BSE and NSE combined. The scrip was the fifth most-actively traded paper on the BSE, clocking a turnover of Rs 153.58 crore.
Infosys is the single highest-priced stock on the Indian markets, ahead of Madras Cements, currently quoting at Rs 7,500. ion" content="Did Allen Rosenshine, chairman and CEO, BBDO Worldwide, know Anthony Feeling, director at McKinsey & Co, UK, was going to make strong case against ad agencies later in the day? Even if he didn't, he was ready with advertising's defence. Rosenshine kicked off Brand Summit `99 with his views on the future of marketing. He is confident that branding will prosper in the next millennium too, and that it will continue to be the preserve of ad agencies. "But," he said, "Branding will move beyond traditional advertising to embrace a slew of media." In other words, customer relationship management or CRM is the future.">
