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To celebrate the launch of its listing on NYSE Euronext’s London and Paris markets, SD Shibulal, CEO and Managing Director of Bangalore-headquartered Infosys, made a transatlantic dash to ring the opening bell in London and closing bell in New York yesterday. Infosys moved the listing of its American Depositary Shares from Nasdaq to NYSE last December so that it could then list on Euronext. The ADR shares represents just over 10% of Infosys’ underlying stock.
In theory at least, the Euronext listing should make it easier for European institutions to invest in Infosys’ stock. Having said that, Infosys’ ADR shares have had a rollercoaster ride over the past 12 months and currently sit about 12% lower than they were a year ago. Once the undisputed margin leader among its India-centric peers, Infosys is now trailing TCS in both margin and top line growth (see Infosys holds its own).
