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

Shares of IT major Infosys today settled nearly 7 per cent higher, adding Rs 13,977.57 crore to its market valuation, after the company posted 28.6 per cent jump in consolidated net profit for the quarter ended September 30, and declared bonus shares.
After surging 7.21 per cent to Rs 3,908.60 -- its 52-week high on the BSE in intra-day trade, shares of Infosys finally ended at Rs 3,888.95, up 6.68 per cent from its previous close.
At the NSE, the stock jumped 6.51 per cent to end at Rs 3,884.20.
Led by the rally in the stock, the company's market value surged Rs 13,977.57 crore to Rs 2,23,317.57 crore.

"Infosys gave better-than-expected results," said Jayant Manglik, President-retail distribution, Religare Securities.
In terms of volume, 6.47 lakh shares of the company changed hands at the BSE, while over 57 lakh shares were traded at the NSE during the day.

The stock was the best performer among the blue-chips on both Sensex and Nifty.
"The stock surged on bonus share declaration from Infosys and positive earnings," said Kishor Ostwal, CMD, CNI Research.
Infosys, India's second-largest IT firm, today reported a higher-than-expected 28.6 per cent growth in its second quarter net profit on increased sales and said it will issue bonus share and give dividend to shareholders.

Consolidated net profit in July-September rose to Rs 3,096 crore from Rs 2,407 crore in the year-ago period, the company said.
Infosys said it will give one free share for each share currently held.
Consolidated revenue was up 2.9 per cent to Rs 13,342 crore in Q2.
The company maintained its forecast for full-year sales growth at 7-9 per cent in US dollar terms.
Buoyed by a strong set of numbers, the company declared an interim dividend of Rs 30 per equity share as compared to Rs 20 in the previous year.
Buying was also seen in other IT stocks with HCL Tech gaining 2.59 per cent, Mphasis (1.41 per cent), MindTree (0.38 per cent) and Tech Mahindra (0.14 per cent).

The BSE IT index ended with a gain of 2.29 per cent at 10,680.74.