Infosys market cap jumps by $4 billion, more than Fiji GDP
Reuters Market Eye - Shares in Infosys(INFY.NS) closed up 16.8 percent on Friday after stellar third-quarter results and an unexpected rise in its fiscal year revenue estimate, adding $4.07 billion to its market capitalization, more than the GDP of Fiji.
Infosys' 16.8 percent jump almost single-handedly kept the Sensex in the black, with 26 of its 30 components closing lower, including index heavyweights Reliance Industries and tobacco major ITC.
Fiji's gross domestic product stood at $3.81 billion in 2011, according to the most recent data available from the World Bank.
(Reporting by Henry Foy)
- Tweet this
- Share this
- Digg this
- UPDATE 7-Court orders Russia to pay $50 bln for seizing Yukos assets
- UPDATE 5-Property website Zillow to buy rival Trulia to cut costs
- UPDATE 3-Judge allows $2 bln sale of NBA's Los Angeles Clippers to proceed
- Israel warns of long Gaza war as Palestinian fighters cross border
- UPDATE 6-Dollar Tree to buy Family Dollar to stave off competition
Indian conglomerate Larsen & Toubro said on Monday revenue totalled 191.23 billion Indian rupees ($3.2 billion) in the first quarter, beating analyst forecasts, after a rise in orders from international clients. Full Article