Infosys gains after decent Q2 numbers

Infosys rose 4.97% to Rs 3826.75 at 9:30 IST on BSE after consolidated net profit as per IFRS rose 7.28% to Rs 3096 crore on 4.48% rise in revenue to Rs 13,342 crore in Q2 September 2014 over Q1 June 2014.

The result was announced during trading hours today, 10 October 2014.

Meanwhile, the BSE Sensex was down 210.89 points, or 0.79%, to 26,426.39.

On BSE, so far 2.18 lakh shares were traded in the counter, compared with an average volume of 63,698 shares in the past one quarter.

The stock hit a high of Rs 3,839.85 and a low of Rs 3,600 so far during the day. The stock hit a record high of Rs 3,892.05 on 7 October 2014. The stock hit a 52-week low of Rs 2,894 on 30 May 2014.

The stock had underperformed the market over the past one month till 9 October 2014, falling 2.44% compared with 2.30% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 10.33% as against Sensex's 4.69% rise.

The large-cap company has an equity capital of Rs 287.12 crore. Face value per share is Rs 5.

Infosys announced that its board recommended a bonus issue of one equity share for every equity share held, and a bonus issue, viz., a stock dividend of one American Depositary Share (ADS) for every ADS held, respectively, as on a record date to be determined. Consequently, the ratio of equity shares underlying the ADSs held by an American Depositary Receipt holder would remain unchanged.

The board recommended the issuance in order to increase the liquidity of its shares and to expand the retail shareholder base.

The bonus issue of equity shares and ADSs will be subject to approval by the shareholders, through a postal ballot, and any other applicable statutory and regulatory approvals. Accordingly, the record date for the bonus issues of equity shares and ADSs will be announced in due course, Infosys said.

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

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