Home >Market >Stock-market-news >Infosys stock hits all time high
Over the past four days, Infosys stock has risen 8%. Year-to-date, Infosys shares are up 18.5%. Photo: Hemant Mishra/Mint
Over the past four days, Infosys stock has risen 8%. Year-to-date, Infosys shares are up 18.5%. Photo: Hemant Mishra/Mint

Infosys stock hits all time high

Infosys share hit an all-time high of Rs1,168.80 in intra-day trade, before closing 0.68% lower at Rs1,149

Mumbai: Shares of Infosys Ltd hit a record high on Friday as a weaker rupee pushed up stocks of software service exporters for the fourth session in a row.

Infosys share hit an all-time high of 1,168.80, gaining 1.03%. Over the past four days, the stock has risen 8%. Year-to-date, Infosys shares are up 18.5%.

Shares of Infosys closed 0.68% lower at 1,149 apiece on BSE, while BSE’s benchmark Sensex closed 1.88% higher at 28,067.31 points. The BSE IT Index rose 0.53% to 11,621.55 points.

Last month, Infosys had reported a consolidated net profit of 3,030 crore for the June quarter, up from 2,886 crore a year ago. Consolidated revenue for the quarter was up 12.4% to 14,354 crore, from 12,770 crore in April-June, 2014.

The recent gains across IT stocks are being attributed to a weaker rupee.

The rupee weakened past the 65-to-a-dollar mark this week and hit a low of 65.31, a level last seen on 6 September 2013. However, the rupee erased all its intra-day losses and gained marginally after local equity markets surged.

Shares of other IT companies also rose for the fourth session in a row. HCL Technologies Ltd rose 0.71% to 972.35, Wipro Ltd rose 0.64% to 574.50 and Tech Mahindra Ltd gained 0.85% to 555.15.

Mid-cap IT firms like NIIT Ltd rose 4.94%, HCL Infosystems Ltd rose 1.35%, Rolta India Ltd rose 2.15%, Polaris Consulting Services Ltd rose 4.18%, KPIT Technologies Ltd rose 4.12% and CMC Ltd rose 2.74%.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Click here to read the Mint ePaperMint is now on Telegram. Join Mint channel in your Telegram and stay updated with the latest business news.

Close
x
×
My Reads Redeem a Gift Card Logout