Infosys m-cap nears Rs 5-trillion
Published On: Tuesday, October 13, 2020 | By: Team KnowMyStock
Infosys shares hit a fresh record high of Rs 1,164.70, up 3 percent on the BSE today(13th October 2020), on the expectation that the company may raise its FY21 revenue growth guidance while announcing its July-September quarter (Q2FY21) results in tomorrow. The information technology (IT) bellwether is set to become the fifth company to touch market capitalisation of Rs 5-trillion. At 02:46 pm, the market capitalisation (market-cap) of Infosys stood at Rs 4.95 trillion, 1 percent away from the Rs 5-trillion mark. Currently, Reliance Industries leads the pack with Rs 15.4 trillion market cap, followed by Tata Consultancy Services (Rs 10.61 trillion), HDFC Bank (Rs 6.6 trillion), and Hindustan Unilever (Rs 5.02 trillion), BSE data shows.
IT companies are expected to post healthy numbers for the second quarter of the fiscal year 2020-21 (Q2FY21) owing to multiple tailwinds such as strong deal flow, traction in digital technologies, and resolution of supply-side issues as the quarter witnessed easing of Covid-19-induced lockdowns in many countries.
Market analysts expect Infosys to continue to outperform TCS on growth.Analysts at Prabhudas Lilladher also expect Infosys to raise FY2021E revenue growth guidance between 1-3 per cent from 0-2 per cent earlier, led by strong demand, strong revenue & margin performance.
Tags: Infosys m-cap
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