Infosys rises on plan to set up $120 million development centre in China

18 May 2015

Infosys is currently trading at Rs. 1973.40, up by 13.65 points or 0.70% from its previous closing of Rs. 1959.75 on the BSE.

The scrip opened at Rs. 1964.20 and has touched a high and low of Rs. 1985.00 and Rs. 1962.05 respectively. So far 58763 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 2335.20 on 20-Feb-2015 and a 52 week low of Rs. 1447.00 on 30-May-2014.

Last one week high and low of the scrip stood at Rs. 2000.00 and Rs. 1910.00 respectively. The current market cap of the company is Rs. 226783.09 crore.

The promoters holding in the company stood at 13.08% while Institutions and Non-Institutions held 53.06% and 17.66% respectively.

Infosys has decided to set up its first overseas centre outside India in China with an investment of about $120 million to tap the Chinese market. This development centre with a staff capacity of about 4,500 will help the company to focus on Chinese and global markets.

The company has signed a Memorandum of Understanding (MoU) with China's Guizhou provincial government for exploring business expansion in the province. This will help to capture the growth trends of Chinese markets for Infosys China, whose annual turnover is around USD 120 million.

Infosys is a global leader in consulting, technology and outsourcing solutions. The company enables clients, in more than 30 countries, to stay a step ahead of emerging business trends and outperform the competition.



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