Facebook to replace Infosys on Nasdaq 100
Social networking giant Facebook is all set to replace Indian software major Infosys to become a part of the Nasdaq 100 index from December 12.
New York: Social networking giant Facebook is all set to replace Indian software major Infosys to become a part of the Nasdaq 100 index from December 12.
According to Nasdaq: "Facebook 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, December 12, 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, 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.
More from News AnalysisMeanwhile, Bangalore headquartered Infosys Ltd has a market capitalisation of Rs 1,37,327 crore. Reacting to the development, shares of Infosys, lost 2.11 percent 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 and fellow Harvard University students, at present has around 1 billion users across the world.
PTI
Why AI notetakers are raising serious privacy and security concerns
China's low-cost AI models are changing the global AI race. Here's why Silicon Valley is worried
China's Kimi K3 challenges US AI leaders with frontier-level performance at lower cost
How did Instagram run ads promoting child abuse in India?
Why has India halted WhatsApp’s username feature before launch?