To replace Infosys on Nasdaq 100
7 Dec 2012 5:04 AM IST
Social networking giant Facebook Inc is all set to replace Indian software major Infosys Ltd to become a part of the Nasdaq 100 index from 12 December. According to Nasdaq: 'Facebook Inc will become a component of the NASDAQ-100 Index, the NASDAQ-100 Equal Weighted Index, and the NASDAQ-100 Technology Sector Index prior to market open on Wednesday, 12 December 2012.'
Facebook will replace Infosys Ltd on the index.
The Facebook stock has lost a significant vlaue since its much hyped public listing on May this year. Facebook, Inc headquartered in Menlo Park, California currently has a market capitalisation of around $29.7 billion (Rs 1,62,000 crore). However, when the company went public, its market value was about $104 billion. Meanwhile, Bangalore headquartered Infosys Ltd has a market capitalisation of Rs 1,37,327 crore.
Reacting to the development, shares of Infosys, lost 2.11 per cent and fell to an intra-day low of Rs 2,378 on the BSE. The social networking firm, which was founded eight years ago by Mark Zuckerberg with his college roommates, at present has around 1 billion users across the world.
Facebook will replace Infosys Ltd on the index.
The Facebook stock has lost a significant vlaue since its much hyped public listing on May this year. Facebook, Inc headquartered in Menlo Park, California currently has a market capitalisation of around $29.7 billion (Rs 1,62,000 crore). However, when the company went public, its market value was about $104 billion. Meanwhile, Bangalore headquartered Infosys Ltd has a market capitalisation of Rs 1,37,327 crore.
Reacting to the development, shares of Infosys, lost 2.11 per cent and fell to an intra-day low of Rs 2,378 on the BSE. The social networking firm, which was founded eight years ago by Mark Zuckerberg with his college roommates, at present has around 1 billion users across the world.
Next Story
