Thursday, July 9, 2009

Better Q1 Result Lifts Infosys By 3 Pc in BSE

. Thursday, July 9, 2009

By stockOzone team

Indian software major Infosys Technologies today surged nearly three per cent in early trade on the Bombay Stock Exchange after the company reported a 17.28 per cent growth in net profit at Rs 1,527 crore.

The scrip surged to a high of Rs 1,725, an increase of Rs 48 or 2.88 per cent over previous close on the BSE.

Similarly, on the National Stock Exchange, shares of Infosys gained 2.75 per cent to Rs 1,723.70. On the volume front, over 4.37 lakh shares were traded on both the bourses.

For the first quarter ended June 30, 2009, Infosys posted a 17.28 per cent growth rate in net profit at Rs 1,527 crore, against Rs 1,302 crore in the same period last fiscal.

Marketmen said, better-than-expected quarterly figures of Infosys propelled the entire IT sector stocks and the BSE IT index gained 2 per cent at 3,190.74 points.

Other major gainers in the IT sector include Wipro, which surged 5.61 per cent at Rs 393 and TCS up 2.83 per cent to Rs 715 on the BSE.

Disclosure: Author does not own any of the stocks discussed here.

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