Share market Tips: Bonus Shares issued by Infosys, 6% growth in the company

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Infosys is to issue Bonus Shares for providing income to its Shareholders. Rather than cash dividends company is to issue Bonus shares to increase the issued share capital of the company.

For the first time, the company’s market valuation has crossed Rs 3 lakh crore after announcing 1 bonus share on 1. The stock on the BSE rose by 5.75 percent to Rs 1,384.40, which is 52 weeks high.

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Market cap crosses 3 lakh crore for the first time

With the good growth in the stock, the ITC Infosys market cap has managed to cross Rs 3 lakh crore for the first time. On Monday, the company's market capitalization increased by Rs 16,444 crore. Infosys's market capitalization of Rs 3,02,326 crore has been made at the all-time high share price of Rs 1384.40. At the closing price of Friday, the company's market capitalization was Rs 2,85,882 crore.

Q1 profit declines 2.11% to 3612 million

In the first quarter of the fiscal year 2019, the country's second-largest IT company, Infosys Ltd, lost 2.11 percent to Rs 3612 crore. Infosys' profit in the fourth quarter of the fiscal year 2017 was Rs 3,690 crore. Infosys announces 1 bonus share on 1.
In the first quarter of the financial year 2019, Infosys's earnings increased 5.8 percent to Rs 19,128 crore. In the fourth quarter ended March 2018, Infosys's earnings stood at Rs 18,083 crore.

Move on such a stock

On Monday, shares of Infosys rose by 1.21 percent to Rs 1,325. After the mixed results, the stock rose sharply and the stock on BSE rose by 5.75 percent to Rs 1,344.40, which is 52 weeks high. In the intra-day, the stock made Rs 1288.35.

Referenced By- https://money.bhaskar.com/news/MON-MARK-STMF-MRKT-infosys-surges-6-pc-post-q1-results-5917727-NOR.html