Infosys shares gain over 2% post Q3 results

Shares of Infosys today rose by over 2 per cent after the IT major raised its revenue growth forecast for the financial year ending March 31, 2014.
After making a positive opening, the stock further gained 2.28 per cent to Rs 3,529.90 on the BSE.
On the NSE, the scrip went up by 2.26 per cent to Rs 3,529.
The bellwether stock was the top gainer among the bluechips on both the Sensex as well as Nifty during the early trade.
"Infosys numbers came in-line with expectations. Revenue guidance is good, but the stock price seems to have factored in this," said Kishor Ostwal, CMD, CNI Research.

According to Paras Bothra, Research Head, Ashika Stock Brokers: "Results are reasonably okay. The key take away is that guidance has been increased."

The country's second-largest software services firm, Infosys, today reported a 21.4 per cent increase in net profit to Rs 2,875 crore in the third quarter ended December 31.
Profit was Rs 2,369 crore in the same period a year earlier.
Revenue rose 25 per cent to Rs 13,026 crore from Rs 10,424 crore, Infosys said in a BSE filing.
The company has also raised its revenue growth forecast to 24.4-24.9 per cent for the financial year ending March 31, 2014, from 21-22 per cent estimated earlier.

Infosys earnings had a positive rub-off on other IT stocks, with the BSE IT index rising 1.51 per cent against a 0.07 per cent rise in broader benchmark Sensex.