Infosys: First Indian Company on NASDAQ Message Board

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Technology Stocks : Infosys: First Indian Company on NASDAQ

INFY 17.79

-0.1%

Jan 12 3:59 PM EST

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To: Glenn Petersen who wrote (27)	7/16/1999 1:44:00 PM
From: janet kuhnert	Read Replies (1) of 67

Friday July 16, 12:56 pm Eastern Time India Infosys says unaware of cause of ADR rise BANGALORE, India, July 16 (Reuters) - Indian computer softeware firm Infosys Technologies Ltd (Nasdaq:INFY - news) said on Friday that it was not aware of the reason behind the rise in its American Depository Receipts (ADRs). Infosys is the only Indian company listed on Nasdaq. ''Other than the earnings release issued on July 9, 1999, the company is not aware of any new development that might be affecting trading activity,'' said N.R. Narayana Murthy, chairman and chief executive officer of Infosys in a statement. The statement said the Infosys ADR exceeded 120 in Friday morning trade trade, which compares to the 68 posted at the end of the session on July 9 when the firm released its most recent earnings. As of 1651 GMT, the ADR was up $12 at 110.

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