Infy to ring Nasdaq bell on July 31 | Latest News India - Hindustan Times
close_game
close_game

Infy to ring Nasdaq bell on July 31

None | ByIndo-Asian News Service, Bangalore
Jul 27, 2006 01:18 PM IST

The event will also mark the Infosys' 25th anniversary celebrations in its sprawling 270-acre Mysore campus.

Indian IT major Infosys Technologies Ltd will have the honour of ringing the opening bell of the Nasdaq national market from its Mysore campus on July 31.

HT Image
HT Image

"Infosys will become the first company in the region to ring the market's remote opening bell for trading in the presence of Nasdaq President and CEO Bob Greifeld and Planning Commission Deputy Chairman Montek Singh Ahluwalia," Nasdaq Asia Pacific Managing Director Ghanshyam Das said in Bangalore.

Hindustan Times - your fastest source for breaking news! Read now.

As the first Indian company to be listed on Nasdaq in March 1999, Infosys became a trendsetter for a host of other Indian firms to tap the US capital market and attract global investors to bet their fortunes.

The upcoming event will also mark the country's second largest IT bellwether's 25th anniversary celebrations in its sprawling 270-acre Mysore campus that is home to the world's largest corporate leadership institute.

The opening bell ceremony will be witnessed worldwide when Infosys will recreate the marketsite experience remotely by clicking on the replica of the Nasdaq electronic sign-in screen that will be installed for the occasion.

"Signing the Nasdaq podium with signatures of CEOs and dignitaries is our long tradition and representative of the market's electronic trading model. The opening bell is a ceremonial event that represents the beginning of the trading day," said Das.

Infosys chairman and chief mentor NR Narayana Murthy, CEO and managing director Nandan M Nilekani and the company's top management team will be joining Greifeld and Ahluwalia to sign-in for commencing the trading day.

With the use of a highly secure, IP-network, the event will highlight how Nasdaq stock market can be remotely opened, bringing together millions of investors and market participants to celebrate the opening of the trading day.

The ceremony has been timed at 7 pm (IST) to coincide with the opening hour (9:30 am EST) of Nasdaq in New York.

The ceremony will also be broadcast live at the Nasdaq marketsite and on its seven-story tower from its premier broadcast studio in Times Square, New York.

"Over the last five-six years, Infosys has emerged as a flag-bearer among other big ticket technology firms. We believe the global software major has created a strong presence in the US for other Indian companies to follow," Das pointed out.

With a float of 38.4 million American Depository Shares (ADSs), the company's blue chip commands a market capitalisation of $3 billion on Nasdaq. As on March 31, 2006, a record 44,757 global investors, including institutional and retail, hold Infosys' ADSs.

Rediff.com, Satyam and Cognizant are the other Indian firms, which went on to list on the Nasdaq subsequently. Canbay International, Symtel and Covensys, promoted by Indians as US entities, are also listed on the world's largest electronic stock exchange.

Infosys' rival, Wipro, is however listed on the New York Stock Exchange (NYSE).

Unveiling Elections 2024: The Big Picture', a fresh segment in HT's talk show 'The Interview with Kumkum Chadha', where leaders across the political spectrum discuss the upcoming general elections. Watch now!

Get Current Updates on India News, Election 2024, Arvind Kejriwal News Live, Bihar Board 10th Result 2024 Live along with Latest News and Top Headlines from India and around the world.
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Friday, March 29, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On