Mumbai: IT bellwether Infosys Technologies opened with a big bang in an otherwise weak trend on the Stock Exchange today (Apr 13, 2004) in response to the company's announcement of a liberal bonus issue and attractive dividend.

Reacting positively to news of a liberal bonus of three shares for every one share, Infosys Technologies opened with a wide gap of Rs 860.00 at Rs 6000 and later dropped to a low at 5354 before being quoted at 5375 at 10.30 hrs (IST).

The Board of directors of the company also recommended a final dividend of Rs 15 per share with a one-time special dividend of Rs 100 per share.

Old economy counters reportedly were under pressure due to selling pressure from domestic mutual funds.

The BSE Benchmark 30-share Index which opened firm at 5823.53 as against yesterday's (Apr 12, 2004) close of 5783.79 but later fell back in line with Infosys price fluctuations and was quoted at 5763.67 at 10.30 hrs (IST).

Infosys Tech announced better than expected earnings for the last fiscal. The IT major reported a jump of Rs 954.77 crore in the net profit at Rs 1243.83 crore in 2003-04.