Infosys gains in volatile trade

Infosys rose 0.54% to Rs 3,640 at 13:01 IST on BSE after a senior officer reportedly reiterated the company's revenue growth guidance in dollar terms for the current financial year.

Meanwhile, the S&P BSE Sensex was up 112.19 points or 0.42% at 26,555

On BSE, so far 16,699 shares were traded in the counter as against average daily volume of 88,262 shares in the past one quarter.

The stock was volatile. The stock rose as much as 0.73% the day's high of Rs 3,647.35 so far during the day. The stock fell as much as 0.51% at the day's low of Rs 3,602 so far during the day. The stock had hit a record high of Rs 3,847.20 on 3 March 2014. The stock had hit a 52-week low of Rs 2,894 on 30 May 2014.

The stock had outperformed the market over the past one month till 26 August 2014, rising 8% compared with 1.21% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 17.03% as against Sensex's 6.98% rise.

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

At an investor conference yesterday, 26 August 2014, Infosys' chief operating officer UB Pravin Rao reportedly reiterated the company's 7% to 9% US dollar revenue growth guidance for the current financial year ending 31 March 2015. Rao also reportedly said that Infosys would look to maintain operating profit margins at 24-25% for the current year.

On the attrition front, Rao reportedly said that it will take a few more quarters before the company can bring down the attrition levels to comfortable level.

Infosys' consolidated net profit declined 4% to Rs 2886 crore on 0.8% decline in sales to Rs 12770 crore in Q1 June 2014 over Q4 March 2014.

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

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