On Thursday, IT major Infosys Ltd became India’s fifth firm to cross a market capitalisation of Rs 5 trillion, as the shares of the company rallied nearly about 61 per cent so far this year. It is the second IT firm to achieve a milestone in the country.
Today, the shares of Infosys touched a fresh record high of Rs 1,815 per share, 4.3 per cent up on from its previous close on BSE, pushing its market cap to Rs 5.04 trillion expecting better September quarter earnings.
The company has raised its revenue growth to 2-3 per cent for the year ended on 31 March, as compared to 0-2 per cent earlier in terms of constant currency. It has provided margin guidance of 23-24 per cent against 21-23 per cent earlier. Profit for the quarter grew by 20.5 per cent to Rs 4,845 crore and revenue was 8.6 per cent up at Rs 24,750 crore as compared to a year-ago period.
Currently, Reliance Industries Ltd. (RIL) is India’s most-valued firm with a market capitalisation of Rs 15.43 trillion, followed by another IT major Tata Consultancy Services (TCS) with Rs 10.42 trillion m-cap and HDFC Bank at Rs 6.62 trillion.