Infosys hits $100 billion m-cap, fourth Indian firm to reach milestone

WHY IN THE NEWS?

• The shares of Information Technology major, Infosys hit a record high during intraday trading, which helped the company cross $100 billion in market capitalisation. Infosys is the fourth Indian company to achieve this milestone.
• Reliance Industries (m-cap of $140 billion), Tata Consultancy Services (m-cap $115 billion) and HDFC Bank (m-cap $100.1 billion) are the other Indian firms in the club with Infosys.
• Infosys has been one of the fastest-growing companies in India, providing business consulting, information technology and outsourcing services. In the quarter ending June 2021, Infosys reported a net consolidated profit of ₹5,195 crores, showing a growth of 2.3 per cent