Infosys becomes fourth Indian firm to hit Rs 8 trillion market cap

IT Giant Infosys on Friday, December 24, 2021, became the fourth Indian company to hit the Rs 8 trillion (Rs 8 lakh crore) market capitalization mark. It hit the market capitalization to Rs 8 trillion after its shares touched an all-time high of Rs 1,913 per share in the intraday trade on BSE today.

The other three companies that have achieved this milestone in market capitalization in the past are Reliance Industries Ltd (RIL), Tata Consultancy Services (TCS) and HDFC Bank.

Infosys today surpassed its previous high of Rs 1,860 per share recorded on December 23, 2021.

Shares of the Bengaluru-based IT major today closed at 1,863.65 per share, up 0.37 per cent from the previous close of 1,856.80.

The shares of Infosys has outperformed the market by a wide gap, advancing 8.63 per cent between December 1, 2021, and December 24, 2021. It closed at Rs 1,715.50 per share on December 1, 2021. On a year-on-year basis, the IT stock has surged over 52 per cent.

The company is set to announce its December quarter results of this financial year (Q3FY22) on January 12, 2022. In the last quarter, the company increased its FY2022 revenue guidance to 14-16 per cent on a constant currency basis from 12-14 per cent announced earlier. The firm maintained its operating margins guidance at 22-24 per cent.