Infosys, the second largest Indian IT exporter in 2017, became the fourth Indian company to reach a market capitalization of Rs 8 trillion in trading on Monday.
The Bengaluru-based company reached this milestone in trading hours after it reported annual results that beat analyst estimates. Its stock price jumped 16% on Monday after its results were announced.
Only Indian Oil, HDFC and Reliance Industries have achieved this feat till date. The Mumbai-based oil major is the most valued company with a market cap of Rs 8.70 trillion followed by the country's largest lender SBI at Rs 8.43 trillion, the Mumbai-based Housing Development Finance Corporation at Rs 7.12 trillion and Reliance Industries at Rs 6.82 trillion.
Infosys, India's second largest software group, is among the leaders in both the US and Europe, where it competes with Wipro. It has been expanding its presence into the Middle East and Africa as well. The company had previously achieved a market cap of Rs 6 trillion in July 2015 before adding $870 million to its cash holdings to reach Rs 7 trillion in March 2016.
