Infosys touches Rs 7 trillion in the market for the first time

Indian multinational information technology company Infosys reaches Rs 7 trillion in market capitalization for the first time.

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Infosys Ltd became the fourth Indian organization to reach Rs 7 trillion in market capitalization after its share towered 71% in one year. Previously companies like Reliance Ltd, Tata Consultancy Services Ltd, and HDFC Bank Ltd have achieved this milestone. 

The company had announced its April-June quarter (Q1FY22) results on July 15, 2021, and expected growth by 16-14 percent in FY22. The company maintained the margin guidance at 22-24 percent in FY22. In the first quarter, the company signed 22 large deals and had an intake of $2.6 billion.

This deal was a good combination of new and renewal deals that offered good revenue visibility. In the post Q1FY22 result update, the company retained its FY22 EBIT (Earnings before interest and taxes) guidance of 22-24 percent, considering the salary hikes and large deals transitions costs.