Infosys gains ahead of Q1 results

Meanwhile, the S&P BSE Sensex was up 406.27 points, or 2.11%, to 19,700.39.

On BSE, 43,000 shares were traded in the counter as against an average daily volume of 1.43 lakh shares in the past one quarter.

The stock hit a high of Rs 2,563.45 and a low of Rs 2,506.30 so far during the day. The stock had hit a 52-week high of Rs 3,010 on 7 March 2013. The stock had hit a 52-week low of Rs 2,101.65 on 26 July 2012.

The stock had outperformed the market over the past one month till 10 July 2013, rising 0.56% compared with the Sensex's 0.76% fall. The scrip had, however, underperformed the market in past one quarter, falling 11.10% as against Sensex's 4.78% rise.

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

The company's Q1 results will reflect the impact of salary hike, rupee depreciation and cross-currency movements. Investors will closely watch the management commentary on demand environment. At the time of announcement of Q4 March 2013 results in April this year, Infosys had forecast 6% to 10% growth in revenue in both rupee terms and dollar terms for the year ending 31 March 2014 (FY 2014). Infosys has suspended the practice of giving EPS guidance or outlook on margins citing uncertainty in various factors.

The company on Tuesday, 9 July 2013, said head of global sales Basab Pradhan left the company. The company gave no reason for Pradhan's departure.

Infosys' consolidated net profit rose 1% to Rs 2394 crore on 0.3% growth in sales to Rs 10454 crore in Q4 March 2013 over Q3 December 2012.

Infosys partners with global enterprises to drive their innovation-led growth. As a leading provider of next-generation consulting, technology and outsourcing solutions, Infosys helps clients in more than 30 countries realize their goals.

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