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The share price of this large-cap firm engaged in providing technological services surged by 4 percent to an intraday high of Rs 1,718.55 per share on Friday after the company’s subsidiary was awarded a contract from the Delaware Department of Labor to improve the state’s unemployment insurance system.

Share price movement: With a market capitalization of Rs 7,07,194 crores, the shares of Infosys Limited surged around 3 percent at 11:18 am, trading at Rs 1,704.40 per share on Friday’s morning market hours. The shares of this company generated an overall return of 27 percent over the past year and 5 percent over the past 6 months.

What happened:

According to Infosys Limited stock exchange filings, the company disclosed that the firm’s subsidiary named Infosys Public Services has been awarded a contract from the Delaware Department of Labor to improve the state’s unemployment insurance system, including how taxes are collected, benefits are given, and appeals are handled. 

Additionally, the exchange filings also mention that Infosys Public Services has to develop a new system under the paid family medical leave program for the Delaware Department of Labor.

 Also, the fully integrated cloud platform Infosys Labourforce will be used by Delaware to create improvements in the key state labor programs, according to the filings.

Financials:

Reviewing the financials of Infosys Limited on a year-on-year basis, the revenues rose by 5 percent from Rs 1,46,767 crores in FY23 to Rs 1,53,670 crores in FY24. In the same time frame, the net profits increased from Rs 24,108 crores to Rs 26,248 crores, demonstrating a 9 percent increase.

Ratios:In terms of return ratios for the year 2024, it has reported a return on equity (ROE) of 29.77 percent and a return on capital employed (ROCE) of 36.81 percent. The debt-to-equity ratio of the firm for the same year stood at nil.

EPS and dividend:

The EPS of the firm grew by 10.5 percent from Rs 57.63 in 2023 to Rs 63.39 in 2024. Also, the dividend per share increased by 35 percent from Rs 34.0 in 2023 to Rs 46.0 in 2024.

Free cash flows:

The free cash flows of the firm increased by 17 percent from Rs 20,443 crores in 2023 to Rs 23,865 crores in 2024.

Shareholding Pattern:

As of March 2024, Infosys Limited’s shareholding pattern stood at 14.71 percent for promoters, 15.28 percent for the public, 34.10 percent for foreign institutional investors, and 35.90 percent for domestic institutional investors.

About the Company:

Incorporated in 1981, Infosys Ltd provides consulting, technology, outsourcing, and next-generation digital services to enable clients to execute strategies for their digital transformation.The company’s market share stood at approximately 12.86 percent.

Written By Zahal

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