The country's most cash-rich IT firm Infosys has ramped up its investments in debt mutual funds to an all-time high of Rs 7,365 crore, while paring its bank deposits to the lowest level since June 2010.
The tech major's investments in debt MFs increased during the last quarter ended 31 December 2012, even as its total cash chest remained almost unchanged stood at Rs 22,501 crore from the previous quarter level. After rising sharply in the July-September 2012 quarter to Rs 4,986 crore, Infosys' investments in debt-focussed liquid MF schemes rose even further to Rs 7,365 crore as on 31 December 2012. Large corporates use liquid debt MFs to park cash for short-term and also earn good returns, while waiting to deploy the funds for future projects.
At over Rs 7,000 crore, Infosys' current investment level in liquid mutual funds is the highest-ever for the debt-free firm. The previous record high level for its exposure to liquid MFs was Rs 5,200 crore in December 2009, data shows.
On the other hand, Infosys' bank deposits fell from Rs 14,569 crore as on 30 September 2012, to Rs 11,943 crore at the end of December, as per the latest quarterly financial accounts. This excludes funds in current accounts.
The tech major's investments in debt MFs increased during the last quarter ended 31 December 2012, even as its total cash chest remained almost unchanged stood at Rs 22,501 crore from the previous quarter level. After rising sharply in the July-September 2012 quarter to Rs 4,986 crore, Infosys' investments in debt-focussed liquid MF schemes rose even further to Rs 7,365 crore as on 31 December 2012. Large corporates use liquid debt MFs to park cash for short-term and also earn good returns, while waiting to deploy the funds for future projects.
At over Rs 7,000 crore, Infosys' current investment level in liquid mutual funds is the highest-ever for the debt-free firm. The previous record high level for its exposure to liquid MFs was Rs 5,200 crore in December 2009, data shows.
On the other hand, Infosys' bank deposits fell from Rs 14,569 crore as on 30 September 2012, to Rs 11,943 crore at the end of December, as per the latest quarterly financial accounts. This excludes funds in current accounts.