Infosys gains on short covering in May futures

Reuters Market Eye - Shares in Infosys Ltd gain 1.2 percent on short covering in its May futures on Monday due to value buying in the cash market after April's underperformance, dealers say.

Infosys fell 22.6 percent in April compared with a 3.6 percent rise in the BSE Sensex in the same period.

Infosys added 0.29 million shares or about 10.5 percent in outstanding positions for May futures on Friday with a price increase of 2.3 percent, which signifies liquidation of short positions.

(Reporting by Abhishek Vishnoi)