Shares of information technology (IT) companies are in focus after the sector major Infosys has reported a better-than-expected net profit for the quarter ended June 2013.
Infosys has rallied nearly 15% to Rs 2,905 in opening deals on the Bombay Stock Exchange (BSE). The counter has seen huge trading activities with a combined 1.14 million shares have changed hands in early morning deals on BSE and NSE.
Infosys has reported a consolidated net profit at Rs 2,374 crore against an average analysts estimates of Rs 2,296 crore for the first quarter ended June 2013 (Q1). The company has retained its 6-10% US Dollar revenue growth guidance for FY2014.
Among the other individual stocks, Tata Consultancy Services (TCS) is up 2.4% at Rs 1,598, followed by MindTree and Wipro are trading higher by 2% each at Rs 900 and Rs 370 respectively.
HCL Technologies, Hexaware Technologies, Tech Mahindra and MphasiS are up in the range of 1-2%. The BSE IT index, the largest gainer among the sectoral indices, is up 6% compared to 0.74% rise in benchmark Sensex.
Infosys has rallied nearly 15% to Rs 2,905 in opening deals on the Bombay Stock Exchange (BSE). The counter has seen huge trading activities with a combined 1.14 million shares have changed hands in early morning deals on BSE and NSE.
Infosys has reported a consolidated net profit at Rs 2,374 crore against an average analysts estimates of Rs 2,296 crore for the first quarter ended June 2013 (Q1). The company has retained its 6-10% US Dollar revenue growth guidance for FY2014.
Among the other individual stocks, Tata Consultancy Services (TCS) is up 2.4% at Rs 1,598, followed by MindTree and Wipro are trading higher by 2% each at Rs 900 and Rs 370 respectively.
HCL Technologies, Hexaware Technologies, Tech Mahindra and MphasiS are up in the range of 1-2%. The BSE IT index, the largest gainer among the sectoral indices, is up 6% compared to 0.74% rise in benchmark Sensex.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%