Infosys Market Value Crosses Rs 6 Lakh Crore For First Time

The gauge of IT shares on the National Stock Exchange - Nifty IT index - rose over 2 per cent with all the 10 constituents trading higher.

Market value of the country's second largest software services company - Infosys - crossed Rs 6 lakh crore-mark for the first time, data from BSE showed. Shares of the Bengaluru-based IT company rose as much as 2.86 per cent to hit an all-time high of Rs 1,425, on hopes of better-than-expected March quarter earnings, analysts said. Infosys' market capitalization on the BSE touched an all-time high of Rs 6,01,797 crore. In an otherwise weak market session IT stocks were witnessing buying interest on hopes of better earnings as work from home concept during the ongoing Covid-19 pandemic forced companies to increase their spending on information technology infrastructure which hugely benefitted the IT companies, analysts added. The gauge of IT shares on the National Stock Exchange - Nifty IT index - rose over 2 per cent with all the 10 constituents trading higher. During the quarter, leading aero structures manufacturer Spirit AeroSystems has collaborated with Infosys to integrate IT infrastructure of its recently acquired Bombardier's former aerostructures.