'IT will continue to outperform'

After better than expected Q2 FY14 results posted by Infosys, IT sector is back in focus and the stocks will continue to edge higher

Infosys, the largest gainer among the Information technology pack rallied over 3% at Rs 3,567 after reporting a 19.4% quarter-on-quarter growth in consolidated net profit at Rs 2,875 crore for the quarter ended December 31 2013 (Q3). Analysts on an average had expected net profit of Rs 2,681 crore for the quarter.

The consolidated net revenues came in at Rs 13,026 crore, up 0.5% sequentially, the country’s second-largest software services provider said in a statement. Consolidated dollar revenue came in at $2,100 million.

Meanwhile, Infosys has raised the FY14 dollar revenue guidance to 11.5-12% from 9-10% earlier.

Infosys Chairman, N R Narayana Murthy, said he was not sorry to see as many as eight top level executives quit the company in a matter of a few months.

Speaking to analysts over chat, Murthy claimed that the Infosys was the first Indian company to set up a leadership institute.

Rahul Shah, Vice President-Equity Advisory says what this holds in store for the IT sector? He also spoke on markets and his top picks from the sector

SmartInvestor : The third quarter is a weak one for IT exporters. Despite this, Infosys has managed to register a good profit growth of 21 percent y-o-y and sequential ly (19.4% qoq) . Will the IT major manage to register higher profit growth in the fourth quarter?

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