Infosys makes tech-heavy Nasdaq-100 index
Infosys Technologies, India's second-largest software firm, said it will be included on the Nasdaq-100 index from Monday, putting it among the biggest listed tech companies in the world.
By Agencies |
BANGALORE: Infosys Technologies, India's second-largest software firm, said it will be included on the Nasdaq-100 index from Monday, putting it among the biggest listed tech companies in the world.
The Bangalore-based firm said in a press statement to the Mumbai stock exchange that inclusion in the closely followed index brings it into the mainstream of globally recognised software firms. "We are delighted to be part of the Nasdaq-100 index," chief financial officer V. Balakrishnan of Infosys said in the statement.
"It is a very important milestone for the company and is part of our journey to become a mainstream stock globally." The inclusion comes after the company converted 30 million shares worth 1.6 billion dollars held by Indian investors to American depositary receipts traded on the Nasdaq.
The Nasdaq revises its 100 index, which was launched in 1985, every year to highlight high-tech, non-financial companies listed on the exchange. About 19 percent of Infosys total shares are now traded on Nasdaq. The company listed on the exchange in 1999 and trades the remaining shares on the Mumbai and National exchanges in India.
In India, the company's shares fell Rs 2.25 or 0.10 to 2,195.50 in late afternoon trade Monday while the benchmark Mumbai stock exchange index was down 434.76 points or 3.14 percent to 13,365.73.
Infosys net profit jumped 30.2 percent last year to Rs 24.6 billion ($546 million), on revenues which climbed 33.5 percent to 95.2 billion rupees ($2.1 billion). It took Infosys 23 years to reach its first billion-dollar-revenue mark in 2004 while it clocked the next billion dollars in 23 months.
The company has more than 66,000 employees in over 35 offices worldwide.
The Bangalore-based firm said in a press statement to the Mumbai stock exchange that inclusion in the closely followed index brings it into the mainstream of globally recognised software firms. "We are delighted to be part of the Nasdaq-100 index," chief financial officer V. Balakrishnan of Infosys said in the statement.
"It is a very important milestone for the company and is part of our journey to become a mainstream stock globally." The inclusion comes after the company converted 30 million shares worth 1.6 billion dollars held by Indian investors to American depositary receipts traded on the Nasdaq.
The Nasdaq revises its 100 index, which was launched in 1985, every year to highlight high-tech, non-financial companies listed on the exchange. About 19 percent of Infosys total shares are now traded on Nasdaq. The company listed on the exchange in 1999 and trades the remaining shares on the Mumbai and National exchanges in India.
In India, the company's shares fell Rs 2.25 or 0.10 to 2,195.50 in late afternoon trade Monday while the benchmark Mumbai stock exchange index was down 434.76 points or 3.14 percent to 13,365.73.
Infosys net profit jumped 30.2 percent last year to Rs 24.6 billion ($546 million), on revenues which climbed 33.5 percent to 95.2 billion rupees ($2.1 billion). It took Infosys 23 years to reach its first billion-dollar-revenue mark in 2004 while it clocked the next billion dollars in 23 months.
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The company has more than 66,000 employees in over 35 offices worldwide.
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