Infosys's American Depository Receipts climb 6 per cent on good quarterly results

NEW YORK: The American Depository Receipts of Infosys today gained nearly 6 per cent in early trade on the New York Stock Exchange on the back of IT major reporting better than expected quarterly results.

Infosys saw its consolidated net profit jump 28.6 per cent to Rs 3,096 crore in the September quarter. The company also recommended a bonus issue of one equity share for every equity share held and a bonus issue of a stock dividend of one American Depositary Share (ADS) for every ADS held, respectively.

The company's ADR soared nearly 6 per cent to $62.66 in early trade and at that level, the market capitalisation touched about $35.85 billion.

The ADR opened at $62.40 on the New York Stock Exchange.

However, the broader market was trading marginally higher. The benchmark Dow Jones Industrial Index was almost flat at 16,639.48 points while the S&P 500 index inched up to 1,920.96 points.

The tech-heavy Nasdaq index rose more than one per cent to 4,329.53 points.

In the Indian market too, Infosys shares gained significantly. The scrip jumped nearly 7 per cent to close at Rs 3,888.95 on the BSE while it rose 6.51 per cent to settle at Rs 3,884.20 on the NSE.