New York: Social networking giant Facebook Inc will replace Indian software major Infosys Ltd to become a part of the Nasdaq-100 index from Wednesday.
Facebook will replace Infosys Ltd on the index. The Facebook stock has lost a significant value since its much hyped public listing in May 2012.
Facebook Inc, headquartered in Menlo Park, California, currently has a market capitalisation of around $ 29.7 billion (Rs 1,62,000 crore). However, when the company went public, its market value was about $104 billion.
With this, Facebook will mark its entry in the index of the largest non-financial companies listed on the exchange.
Meanwhile, Bangalore headquartered Infosys Ltd has a market capitalisation of Rs 1,37,327 crore.
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 one billion users across the world.
With Additional Inputs From PTI