Infosys, a global consulting and technology company, has grown 3,362% since its IPO in 1999, trading American Depositary Receipts (ADRs) in the U.S. On Friday, Infosys ADRs surged over 50% intraday, prompting a trading halt due to increased volatility and trading volume reaching 115.6 million shares.

The S&P 500 rose 0.88%, closing at 6,835, while the Nasdaq Composite gained 1.31% to 23,308. Among IT services peers, Cognizant Technology Solutions and Wipro advanced 1.97% and 6.99%. Infosys ADRs hit a 52-week high with no clear driver, unlike Indian competitors who did not see similar gains.

Infosys shares in India rose only about 0.7%, raising concerns about ADR structural issues. Investors considering Infosys or other ADRs should weigh this added volatility in their decision-making process. The sudden price increase in Infosys ADRs on Friday lacks a clear driver, despite increased optimism around IT stocks.

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Read more at Yahoo Finance: NYSE Halts Infosys Trading After ADRs Spike