Odigo: A new search and communication tool

Have a flair with words?

Search
Elections '99

The Indian Express

The Financial Express

Latest News

Screen

Express Computer
Feedback
Mythology

CerfKids

Corporate Results

Ebate

Matrimonials

Careers

Lifestyle

Astrology

E-Cards

Columnists

Graffiti

Crossword

Letters

Jewellery
Info-tech

Power

Steel


INDIAN EXPRESS FRONT PAGE

Politics

Business

Expressions

General

World

Sports

Leisure

States

 

Tuesday, September 21, 1999

Infosys scrip races past Rs 7,000 mark on SEs

ENS ECONOMIC BUREAU  
MUMBAI, SEPT 20: The software blue chip Infosys Technologies once again created waves on the stock markets. The Infosys scrip shot up by Rs 509.10 to cross the Rs 7,000 mark to Rs 7,059.95, showing a gain of 7.77 per cent over the previous level on the Bombay Stock Exchange. Zee Telefilms scrip crossed the Rs 4,000 landmark on huge buying interest.

Brokers said the Infosys scrip was partly tracking gains of its American Depository Receipt (ADR) which ended at $115 - at the Nasdaq on Friday - a premium of nearly 54 per cent over its weekend closing at the Bombay Stock Exchange. Two ADRs of the company are equivalent to one domestic share. ``When calculated on the basis of its ADR price, the domestic share price should be Rs 10,005,'' said a broker.

At Rs 7,000 level, the market capitalisation of the scrip has gone above the Rs 20,000 crore mark. Infosys is third behind Hindustan Lever and ITC in market capitalisation.

Software shares generally ended higher on speculative bidding ahead of second quarterresults, brokers said. "Index-based stocks were hit rather badly, with both domestic and foreign funds turning sellers. People are getting out of cyclicals mainly and focusing on software and to an extent pharma," said a broker.

NIIT ended 7.99 per cent up at 2,453.35 buoyed by a newspaper report it has been assessed to be operating at SEI-CMM Level 5 - the highest maturity level as per the US-based Software Engineering Institute's Capability Maturity Model.

Zee Telefilms, which crossed the Rs 4,000 level in the mid-session, flared up by Rs 167.50 to close at Rs 3975. ``There was huge demand for Zee shares,'' brokers said.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.


Top



New! 39c a minute to India

123india.com: Join the chat
 

Click here for a printer-friendly page Printer-friendly page



EXPRESSindia.com
Elections '99
News   Business   Sports   Entertainment
The Indian Express | The Financial Express | Latest News | Screen | Express Computers
Matrimonials | Careers | Lifestyle | Mythology | Astrology
E-Cards | Graffiti | Columnists | Ebate | Jewellery | Cerfkids
Corporate Results | Info-tech | Power