Date:01/09/2006 URL: http://www.thehindu.com/2006/09/01/stories/2006090108831700.htm

Business

Infosys in Rs. 100,000 cr. marketcap club

Special Correspondent

BANGALORE: Infosys Technologies on Thursday joined the select ranks of ONGC, Reliance Industries and NTPC by entering the elite club of Rs. 1 trillion market-cap firms.

The market capitalisation of Infosys rose to Rs. 100,148 crore at the end of Thursday's trading session on the Bombay Stock Exchange, making it the fourth company in the Indian capital market with a market cap of over Rs. 1 lakh crore.

Based on the intra-day share price, Infosys had first crossed the Rs. 1 lakh crore market cap mark on August 22 but failed to sustain the level at the end of the trading session. ONGC leads the club with a market cap of over Rs. 1.73 lakh crore, followed by RIL with Rs. 1.55 lakh crore

NTPC is the third largest domestic company with a market cap of about Rs. 1.02 lakh crore.

Infosys' scrip moved up by Rs. 9.95 to close at Rs. 1,808.80 on the BSE. IT majors like TCS and Wipro had crossed the Rs. 1 lakh crore market cap earlier, but both companies are now lagging behind Infosys in terms of market capitalisation.

Gartner assessment

Infosys has also been named as one of the top three fastest growing technology and services provider to the U.S. financial service market by leading research firm Gartner.

``Infosys has grown to become the sixth-largest provider of systems integration services to the US financial service market, as well as one of the top three fastest-growing TSPs to the market," Gartner said.