Defensives gain after Infosys slumps

Reuters Market Eye - Shares perceived to be defensive gain following the disappointing earnings of the more cyclical Infosys, dealers say.

Infosys forecast lower revenue growth than analysts had expected for this fiscal year, citing a challenging global economy, sending its shares tumbling nearly 21 percent. (Read full story http://in.reuters.com/article/2013/04/12/india-infosys-march-quarter-earnings-idINDEE93A0HD20130412)

By contrast, consumer-focussed defensive stocks gain: ITC Ltd is up 2.7 percent, while Hindustan Unilever Ltd gains 1.4 percent.

Among other defensives, drug-maker Cipla Ltd gains 0.9 percent, while Dr. Reddy's Laboratories Ltd is up 0.7 percent.

(Reporting by Abhishek Vishnoi)