Infosys jumped 3.03% to Rs 3,218.90 at 9:17 IST on BSE after the company raised its revenue guidance for the year ending March 2014.
Meanwhile, the BSE Sensex was up 201.67 points, or 0.99%, to 20,474.58.
On BSE, 73,000 shares were traded in the counter compared with average volume of 1.04 lakh shares in the past one quarter.
The stock hit a high of Rs 3,360 so far during the day, which is also a 52-week high for the counter. The stock hit a low of Rs 3,157.65 so far during the day. The stock hit a 52-week low of Rs 2,190 on 29 April 2013.
The stock had underperformed the market over the past one month till 10 October 2013, sliding 0.84% compared with the Sensex's 1.38% rise. The scrip had, however, outperformed the market in past one quarter, rising 24.92% as against Sensex's 5.07% rise.
The large-cap company has an equity capital of Rs 287.12 crore. Face value per share is Rs 5.
Infosys said it expects dollar revenues to grow 9% to 10% in the fiscal year ending 31 March 2014 (FY 2014). In rupee terms, the company expects revenues to grow 21% to 22% in FY 2014, under International Financial Reporting Standards (IFRS) standards. The rupee revenue guidance was based on assumption of dollar rupee conversion rate of Rs 62.61 for the rest of the fiscal year.
At the time of announcing Q1 June 2013 results in July this year, Infosys had retained its guidance of 6% to 10% growth in revenue in dollar terms for FY 2014. At that time, the company had forecast 13% to 17% growth in revenue in rupee terms for FY 2014. That guidance was based on assumption of dollar rupee conversion rate of Rs 59.39 for the rest of the fiscal year.
On a consolidated basis, Infosys' net profit rose 1.4% to Rs 2407 crore on 15.1% increase in total revenues to Rs 12965 crore in Q2 September 2013 over Q1 June 2013. Figures are as per IFRS. The company announced the result before trading hours today, 11 October 2013.
Infosys has made a provision of Rs 219 crore towards visa related matters in Q2 September 2013.
"During the quarter we witnessed broad-based volume growth, robust client additions, five large deal wins and increased sales momentum of our big data and cloud offerings. This growth is a result of our focus on execution, which helps our clients achieve their objectives." said S. D. Shibulal, CEO and Managing Director. "We will continue with planned investments and initiatives to explore new avenues of growth. We remain watchful of the sustainability of improving global economic fundamentals", he added.
The global currency market remains volatile with the Indian Rupee depreciating by 11% during the quarter. We have an active hedging program to minimize its impact on our margins. We will continue our focus on optimizing costs and enhancing the efficiency of our operations, said Rajiv Bansal, Chief Financial Officer.
Infosys' liquid assets including cash and cash equivalents, available-for-sale financial assets, and government bonds were Rs 26907 crore as on 30 September 2013 versus Rs 24078 crore as on 30 June 2013.
Infosys is a global leader in consulting, technology and outsourcing solutions.
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