Mumbai, Apr 15 (PTI) Shares of Infosys today closed
nearly 1 per cent higher after the company forecast a revenue
growth of 7-9 per cent in dollar terms for current fiscal --
way below industry body Nasscom's projection of 13-15 per
cent.
The IT major's stock ended the day 0.76 per cent higher
at Rs 3,260.45 on the BSE. During the day, it gained 4.2 per
cent to Rs 3,371.80.
At the NSE, Infosys' scrip settled at Rs 3,268.15, up
1.02 per cent from its previous close.
On the volume front, 5.03 lakh shares of the company
changed hands at the BSE, while over 25 lakh shares were
traded at the NSE.
"Infosys results were good and better than market
expectations. But revenue guidance forecast was slightly below
expectations," said Ashika Stock Brokers Research Head Paras
Bothra.
Infosys today reported a 25 per cent jump in its
consolidated net profit at Rs 2,992 crore for the quarter
ended March 31, 2014, helped by large deals and an uptick in
client spending.
Revenue for the reported quarter rose 23.2 per cent to Rs
12,875 crore from Rs 10,454 crore.
However, the country's second largest software services
exporter said it expects its US dollar revenues to be in the
range of 7-9 per cent for the 2014-15 fiscal, which is way
below industry body Nasscom's projection of 13-15 per cent.
Even in rupee terms, the firm gave a revenue guidance of
5.6-7.6 per cent for the current financial year.
Buying was also seen at other IT counters as well, with
TCS surging by 4.06 per cent, Wipro by 3.71 per cent and HCL
Tech by 1.71 per cent.
Following the gains in these stocks, the BSE IT index
rose by 2.16 per cent to settle at 9,025.64 and was the top
gainer among 13 sectoral indices.
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