Infosys surges after completing acquisition of Noah Consulting

Infosys rose 2.76% to Rs 1,048.65 at 15:21 IST on BSE after the company announced the completion of acquisition of Noah Consulting, LLC.

The announcement was made during market hours today, 19 November 2015.

Meanwhile, the BSE Sensex was up 374.28 points, or 1.47%, to 25,856.80

On BSE, so far 2.95 lakh shares were traded in the counter, compared with an average volume of 1.86 lakh shares in the past one quarter.

The stock hit a high of Rs 1,051.75 and a low of Rs 1,024.60 so far during the day. The stock hit a record high of Rs 1,219 on 12 October 2015. The stock hit a 52-week low of Rs 932.55 on 10 July 2015.

The stock had underperformed the market over the past one month till 18 November 2015, falling 6.76% compared with 6.36% fall in the Sensex. The scrip also underperformed the market in past one quarter, declining 12.37% as against Sensex's 8.44% decline.

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

Infosys today, 19 November 2015 announced the completion of acquisition of Noah Consulting, LLC, a leading provider of advanced information management consulting services for the oil and gas industry. Noah's deep industry knowledge, information strategy planning, data governance and architecture capabilities combined with the company's ability to provide technology and outsourcing services, will offer clients in the oil and gas industry next-generation data analytics solutions, Infosys said.

It may be recalled that Infosys had on 19 October 2015 announced a definitive agreement to acquire 100% stake in Noah Consulting, LLC in an all-cash deal, with an aggregate purchase consideration of $70 million.

Infosys' consolidated net profit rose 12.1% to Rs 3398 crore on 8.9% growth in net sales to Rs 15635 crore in Q2 September 2015 over Q1 June 2015.

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

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