Infosys share price rises on plans to buy 75pc stake in ABN AMRO

Stock price of Infosys Ltd rose over 2.15% intraday on March 28 after the company said that it will make an investment in ABN AMRO – a Dutch Bank for corporate, retail & private banking clients.

Infosys will be buying a 75%stake in ABN AMRO Group NV’s mortgage admn services unit at USD143.53 million.

Infosys & ABN AMRO have announced their strategic joint venture/partnership in the Netherlands in which the former will acquire 75% stake in Stater NV., the arm of ABN AMRO Bank.

Shares of Infosys Limited opened at Rs730/- and reached an intraday-high of 2.14% of Rs744.70 against the last close of Rs729.05 on Thursday. Infosys stock price has been picking up momentum for the last two days and has risen more than 2% in the period

At 3:05pm, the share price is trading at 736.80 up Rs7.10 or 0.97% in comparison the benchmark Sensex quoted at 38516 up 384points and the Nifty hit at 11568, up 123points in trade.