Infy becomes part of Nasdaq 100 index

BANGALORE: IT bellwether Infosys Technologies becomes part of coveted Nasdaq 100 club.With this, Infosys has now become part of the elite group comprising of Amazon.com, Google, Cisco, Red Hat, Autodesk, eBay, Juniper Networks, Yahoo, Netscapes, Oracle and Apple Corporation.

The NASDAQ-100 index, a global benchmark, is composed of 100 largest non-financial stocks on the NASDAQ.

US Nasdaq Stock Market, Inc announced the reshuffle in its NASDAQ-100 index by including Infosys, which was listed on Nasdaq seven years ago.The induction will be operational from December 18, 2006.

Commenting on the same, V Balakrishnan, CFO of the company said,"We are delighted to hear about the inclusion of Infosys in the NASDAQ-100 index, especially so, when we are celebrating our silver jubilee year."

"India is leading the global growth, and companies like Infosys are helping corporates worldwide to effectively compete in a flat world," the statement quoting Balakrishnan said.

In a bid to increase the liquidity of the company's shares in the US stock market and enter the coveted Nasdaq 100 index, the shareholders of Infosys Technologies had approved the proposal for raising over $1.6 billion through secondary offering of ADS in November this year.

Along with Infosys, Level 3 Communications Inc and Vertex Pharmaceuticals Inc are the other two companies which have entered the NASDAQ-100 index.

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