Infosys becomes 5th Indian company to hit ₹5 lakh cr in market cap

 

 

Infosys on Thursday became the fifth Indian company to hit ₹5 lakh crore in market capitalisation, with the stock having rallied over 50% so far this year.

 

 

It is the second IT firm in the country after Tata Consultancy Services to achieve this milestone.

 

 

Infosys raised its annual revenue growth forecast on Wednesday as it posted a better-than-expected quarterly profit.

 

 

Analysts say the momentum in Infosys shares is likely to continue as the outsourcer has outperformed both TCS and Wipro in Q2.

 

 

Meanwhile, it also announced that it will roll out salary hikes and promotions across all levels effective January 1, 2021.