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Infosys enters elite Nasdaq-100 club

The induction will take effect from Dec. 18

NEW YORK: Infosys ha become the first ever Indian firm to enter the prestigious Nasdaq-100 Index, joining the elite group like Google, Yahoo and Oracle, following its resounding success in its third sponsored American Depository Share offering.

The largest electronic stock exchange of the U.S., Nasdaq Stock Market, Inc on Friday announced the reshuffle in its Nasdaq-100 Index by including Infosys, which was listed on Nasdaq seven years ago.

The induction will be operational from December 18.

Earlier, in November, in a bid to increase the liquidity of the company's shares in the U.S. stock market and enter the coveted Nasdaq-100 Index, the shareholders of Infosys Technologies had approved the proposal for raising over $1.6 billion through secondary offering of ADS. The market capitalisation of Infosys has surged to $30.64 billion, calculated as per the ADS price at the Nasdaq on December 8.

"The Nasdaq-100 Index is one of the world's most recognised benchmarks that owes this distinction to its components: companies that are leaders in a diverse range of industries,'' Nasdaq Executive Vice-President John L Jacobs said in a statement.

Meanwhile, Infosys officials in Bangalore said it was a great recognition not only for the firm but also for the whole country.

"We are delighted to hear about the inclusion of Infosys in the Nasdaq-100 Index, especially so, when we are celebrating our silver jubilee year,'' Chief Financial Officer V. Balakrishnan said. — PTI

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