Inclusion in CNX index gratifying; will do well: Infotech

Infotech Enterprises was included in the CNX IT Index. BVR Mohan Reddy, CMD of Infotech Enterprises, in an interview to CNBC-TV18 said it was very gratifying that their company was included in the CNX IT Index.

Also read: Fewer PSU shares in key indices compared to pvt peers "We are 15 year listed company; we had a marketcap of more than Rs 2,000 crore plus or minus 10 percent in the last six months. There is fairly good amount of trading that’s happening," he said. Below is the verbatim transcript of his interview on CNBC-TV18 Q: You had lowered your guidance so how are things panning out after somewhat positive talk that we got from the managements this quarter? A: We are still on course for what we have said at the beginning of this quarter. We will meet the guidance that we have given to the market space. Since we are in the middle of the quarter it is very difficult for me to predict how the rest of the six weeks will pan out and to specifically pin down the numbers. This might not be the appropriate time to do that. Q: You have got into CNX IT index beating Wipro. Have you got in touch with the exchanges on how this was possible? How did Wipro go out and Infotech managed to come in. What is the math behind it? A: What we understand is that the exchanges get these indexes based on the free float market capitalisation that is there for the companies. I do not know how Wipro went out but I know for sure that if not 20th, we were on the 21st position so therefore we moved from 21st to 20th position. Certainly it is very gratifying because we are 15 year listed company; we had a marketcap of more than Rs 2,000 crore plus or minus 10 percent in the last six months. There is fairly good amount of trading that’s happening. So, it is good that we got into the CNX IT index.