Infy overtakes NTPC as third largest M-cap company

Riding high on a stellar performance for the second quarter, IT major Infosys today surpassed state run power major NTPC to become the country's third largest corporate entity after ONGC and Reliance Industries in terms of market capitalisation.


Infosys' shares closed about 4 per cent higher after the company reported a jump of more than 51 per cent in its second quarter profits, pushing the company's market capitalisation to over Rs 1.10 lakh crore.

The company overtook PSU power major NTPC, which had a market cap of Rs 1.07 lakh crore at the end of today's trading session, to become the third largest publicly listed entity after energy giant ONGC and RIL.

Infosys' share price soared by as much as 6 per cent earlier in the trading session, taking the company's market cap to as high as over Rs 1.12 lakh crore.

NTPC's share price dropped more than one per cent today.

State-run energy giant ONGC leads the tally with a market cap of about Rs 1.60 lakh crore, closely followed by RIL at second place with a market cap of about Rs 1.59 lakh crore.

Besides Infosys, a sharp rally was witnessed in other IT stocks as well, with Infosys's strong Q2 results boosting expectations of similar performances across the sector.

Shares of other IT majors -- TCS, Satyam and Wipro also ended the day in the green while Infosys ended the day 3.95 per cent higher at Rs 1,981.35 after paring some of its earlier gains.

Infosys's share price soared to as high as Rs 2,024 in the intra-day trade, as against its previous close of Rs 1,906.

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