Infosys drops after large block deal

Infosys fell 1.57% to Rs 1,182.25 at 10:31 IST on BSE after a block deal of 55.20 lakh shares was executed on the counter at Rs 1,176.80 per share at 9:46 IST on BSE today, 7 April 2016.

Meanwhile, the BSE Sensex was down 201.41 points, or 0.81%, to 24,699.22

Block deal boosted volume on the scrip. On BSE, so far 56.92 lakh shares were traded in the counter, compared with an average volume of 2.17 lakh shares in the past one quarter. The stock hit a high of Rs 1,214.85 and a low of Rs 1,164 so far during the day. The stock hit a record high of Rs 1,249.90 on 4 April 2016. The stock hit a 52-week low of Rs 932.55 on 10 July 2015. The stock had outperformed the market over the past one month till 6 April 2016, rising 2.61% compared with 1.03% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 12.31% as against Sensex's 1.99% decline.

The large-cap company has an equity capital of Rs 1148.47 crore. Face value per share is Rs 5.

Infosys will announce its Q4 March 2016 result on 15 April 2016. The company's consolidated net profit as per International Financial Reporting Standards (IFRS) rose 2% to Rs 3465 crore on 1.7% increase in revenue to Rs 15902 crore in Q3 December 2015 over Q2 September 2015.

Infosys is a global leader in consulting, technology and outsourcing solutions.

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