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
- U.S. strikes have slowed Iraq militants but not weakened them - Pentagon
- RBI says all companies must apply 2-step payments for credit cards
- First trucks from aid convoy to Ukraine cross back into Russia
- Indians keep faith with Modi, best hope for economy - poll
- Oil ministry to seek Cabinet nod on diesel deregulation - sources
The Reserve Bank of India said that all transactions involving domestic credit cards must follow rules requiring additional verification, a stance that could impact companies such as Uber Technologies Inc that provide more simple app-based purchases. Full Article
India to hike iron ore royalty, miners may struggle to pass on extra cost. Full Article