Infosys settles higher ahead of Q3 results

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Shares of Infosys today ended higher ahead of its third quarter earnings to be announced tomorrow.

 

The stock of the IT major settled 0.66% higher at Rs 3,451.05 on the BSE. During the day, the scrip gained 1.55% to Rs 3,481.95.

 

At the NSE, the stock closed at Rs 3,448.30, up 0.59% from its previous close.

 

"Market expectations from Infosys remains muted. On the margin front, participants expect Infosys to deliver results on cost optimisation measures. Bottom-line is expected to grow by 5% QoQ.

 

"Market will be more focused on qualitative aspects like clarification towards management changes and high profile exits, which have happened over the last few months," said Rakesh Tarway, VP, Head Equity Strategy & Derivative Products, Motilal Oswal Services.

 

Traditionally, the October-December quarter is a weak quarter for IT companies as the number of working days is lesser compared to other quarters due to the holiday season at the client locations.

 

Meanwhile, in the stock market the BSE benchmark Sensex ended flat at 20,713.37, down 16.01 points.