Infosys Q1 results as expected, stocks rise almost 15%
Infosys first quarter report was aligned with market expectations. Shares of the IT firm also rose almost 15% early morning in Friday.
According to Paras Bothra of Ashika Stock Brokers, "Infosys reported reasonably good numbers. Results are in-line with market estimates. The stock is seeing robust buying on the back of good guidance and positive quarterly numbers."
Kishor Ostwal of CNI Research also had a similar statement: "Infosys numbers are in-lne with street expectations and guidance maintained which is a huge plus as market was expecting weak guidance."
In the words of SD Shibulal, CEO of Infosys, "Despite facing an uncertain macro environment, changing regulatory regime and a volatile currency environment, we have done well in Q1 and are cautiously optimistic about rest of the year."
As a result of reaching market expectations, shares of the company rose 14.96% to INR2,905 on the Bombay Stock Exchange. Meanwhile, at the National Stock Exchange, Infosys stocks went up by 14.92% to INR2,905.60. The scrip was top gainer on both the Sensex and Nifty.