Infosys touched an intraday high of Rs 2,680.00 and an intraday low of Rs 2,601. At 14:42 hrs the share was quoting at Rs 2,670.00, up Rs 160.80, or 6.41%.
Calling it a 'strong buy' at the back of Infosys' second quarter results, Sandip Agarwal, IT analyst with Antique Stock Broking says the company has done extremely well for bringing the improvement in the utilization numbers.
Infosys today said the global macro-economic situation will have a bearing on clients' IT budgets next year and it has already started observing delays in the process of decision-making for new projects.
The country's second-largest software exporter Infosys is on the lookout for acquisitions in the products and platforms space, a top official today said.
As the country’s second largest software services exporter Infosys reported a growth of 10.81% in the net profit for the quarter ended September 2011, Moshe Katri, managing director of Cowen & Co says the market is ultimately going to look for the big picture — the budgets for the calendar year 2012.
Infosys touched an intraday high of Rs 2,663.95 and an intraday low of Rs 2,601. At 10:24 hrs the share was quoting at Rs 2,646.50, up Rs 137.30, or 5.47%.
The IT bellwether is happy and brimming. After three disappointing quarters, Infosys has finally brought smiles to investors. Infosys reported a second quarter consolidated net profit of Rs 1,906 crore, up near 10% from a year ago, while revenue was up around 17% to Rs 8,099 crore.
IT bellwether Infosys on Wednesday reported a 9.72% growth in its consolidated net profit to Rs 1,906 crore for the second quarter ended September 30
IT bellwether Infosys today reported a 9.72% growth in its consolidated net profit to Rs 1,906 crore for the second quarter ended September 30.
Infosys consolidated Q2 net profit for FY12 is up by 9.72% to Rs 1,906 crore YoY. Anil Manghnani of Modern Shares & Stock Brokers feels that if Infosys goes up to the 2,700 levels, it would be a decent move for the stock. However, he feels that the stock would get into a phase where it would become a trading stock.
After three disappointing quarters, the tech bellwether has gone all out in its guidance that will cheer markets. Nilesh Shah of Envision Capital says Infosys is all set to shed its image of an underperformer.
"It's the big day today with Infosys results coming up and we will probably get decent set of numbers backed by the present scenario of rupee," says CNBC-TV18's Udayan Mukherjee.
Country's second largest software services exporter Infosys has reported a growth of 10.81% in net profit for the quarter ended September 2011.