Shares of Infosys hit a record high of Rs 1,425

Shares of Infosys hits a fresh record high of Rs 1,425

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Infosys is a global leader in Indian multinational information technology. It provides business consulting, information technology, and outsourcing services. The company is one of the fastest-growing next-generation services and consulting companies in the world. Even if we look over the shares of the company in the market they are growing at a faster rate. According to the sources it was found that the shares of Infosys hit a fresh record high of Rs 1,425. This was done after rising nearly 3% on the BSE in intraday trade on Monday. This sudden increase in the shares has propelled the company’s market capitalization beyond the Rs 6 trillion mark. However, this mark is something which is sound in nature for the company. Previously we have recorded that the stock of Infosys has surpassed its previous high of Rs 1,406 on March 16, 2021. Now just after twenty days, the company has seen a huge growth in its shares.

Infosys trading rate

It was found that at 10:01 am the company’s shares were trading 2% higher at Rs 1,411.80. During that time the market cap of the company was Rs 6.01 trillion. If we look over the previous data then the company has seen tremendous growth. In comparison to the S&P BSE Sensex, it was down 2% or 1,030 points at 48,999.

Infosys Revenues

The brokerage of Infosys experts has informed 4.5% quarter increase in revenue in constant currency terms mainly led by traction in cloud migration. Also, the revenues of the company have been increasing at a faster rate. Also, the company has witnessed a healthy deal pipeline led by lift and shift deals. The company has said that they are expecting dollar revenues to increase 5.3% QoQ. It has also informed that the PAT is expected to increase 22% year on year. The reason behind this is due to low base and savings in travel and facility cost.

Covid-19 is the reason

Due to the Covid-19 pandemic whole world has turned to online work. Due to which IT firms have seen improved demand post-Covid-19 ramp-up of previous deals wins. This is the reason that companies are seeing a huge increase in their revenues. Also in the upcoming future, the companies will see a huge rise in Revenues.

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Author

Somya Somya

Somya is an associate writer at the media hub. Quiet by nature, She is an avid Lacrosse player. She regularly contributes to the technology section and manages staff writers. You can contact him at [email protected]

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