Facebook to replace Infosys on Nasdaq 100 from Dec 12
- BCCI says it can't control bookies, promises to 'fix' guilty players
- Counter-terrorism to top Indo-US Security dialogue agenda: Sushilkumar Shinde
- IPL 2013 LIVE SCORE: Pune Warriors bat, Ashok Dinda back
- Chinese Premier Li Keqiang arrives today, PM to seek early revival of border talks
- Telangana very much part of UPA national agenda: P C Chacko
Social networking giant Facebook Inc is all set to replace Indian software major Infosys Ltd to become a part of the Nasdaq 100 index from December 12.
According to Nasdaq: "Facebook Inc 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, Inc headquartered in Menlo Park, California currently has a market capitalisation of around USD 29.7 billion (Rs 1,62,000 crore). However, when the company went public, its market value was about USD 104 billion.
Meanwhile, Bangalore headquartered Infosys Ltd has a market capitalisation of Rs 1,37,327 crore.
Reacting to the development, shares of Infosys, lost 2.11 per cent 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
- Quake-hit and shaken, Bhaderwah spends nights in the open
- UP blast accused dies on way to jail, govt wanted to drop case against him
- Former civil aviation secy changes mind, seeks airport security exemption as EC
- BCCI suspects Gujarat players in other teams were also approached
- Police on money trail, Sreesanth in fresh trouble
- Chhattisgarh 'encounter' leaves 8 villagers dead, no Maoist link yet