Infosys shares surge nearly 7% on better-than-expected Q2 nos

Shares of IT major Infosys today surged nearly 7% in early trade after the company posted 28.6% jump in consolidated net profit for the quarter ended September 30, and declared bonus shares.

After a positive opening, shares of Infosys further gained 6.61% to Rs 3,886.80 on the BSE.

At the NSE, the blue-chip stock climbed 6.61% to Rs 3,888.

Infosys was the best performer among the blue-chip scrips on both Sensex and Nifty during the early trade.

"The stock surged on bonus share declaration from Infosys and positive earnings," said Kishor Ostwal, CMD, CNI Research.

Beating market expectations, Infosys today posted 28.6% jump in consolidated net profit to Rs 3,096 crore for the quarter ended September 30.

The Bangalore-based firm had reported a net profit of Rs 2,407 crore in the year-ago period.

Consolidated revenue was up 2.9% to Rs 13,342 crore in the said quarter from Rs 12,965 crore in the year-ago period, it said in a BSE filing.

In the April-June quarter this fiscal, Infosys reported a net profit of Rs 2,886 crore and a revenue of Rs 12,770 crore.

Buoyed by a strong set of numbers, the company has declared an interim dividend of Rs 30 per equity share as compared to Rs 20 in the previous year.

For FY15, the country's second-largest software services firm maintained its revenue guidance of 7-9% growth.

In dollar terms, the NYSE-listed firm's net profits grew 33.4% to $511 million in second quarter of this fiscal from $383 million in the year-ago period.

Meanwhile, buying was also seen in other IT counters, with HCL Tech trading higher by 2%, Tech Mahindra (1.34%), Mindtree (0.71%) and TCS (0.14%).

The BSE IT index was quoting 2.31% higher at 10,682.94.