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Home > Business > PTI > Report

Infosys debuts on Nasdaq 100

December 11, 2006 18:04 IST
Last Updated: December 11, 2006 20:26 IST

Infosys Technologies said it would join Nasdaq 100 index on Monday making it the only Indian firm to figure in the prestigious club.

"The move is important as it will make us a global brand improving our profile," Infosys CEO and Managing Director Nandan Nilekani said at a press meet in Mumbai.

The Nasdaq 100 index comprises the largest non-financial stocks on the exchange. In November 2006, Infosys went in for issue of $1.65 billion American Depository Receipts.

The company is setting up a development centre in Latin America. The company is growing at 40 per cent in the European market, he said.

Infosys enters elite Nasdaq-100 club

"We have demonstrated to the world that our organic growth is robust than any other company. Infosys would take the organic growth route in Europe as well," he added.

However, the company is open to acquisitions in those areas where organic growth is not possible, he said.

Nilekani expressed confidence that Infosys would close financial year 2006-07 with revenues exceeding $3 billion.

However, Infosys shares closed at Rs 2,194.70, down 0.12 per cent on Monday in the Bombay Stock Exchange where the Sensex saw a meltdown of 400 points.

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