Weather New York, NY +69°F

Regions

Infosys Q1 results as expected, stocks rise almost 15%

Close
(Credit: Reuters) Infosys Q1 results were in line with market expectations.Infosys
July 12
2:59 AM 2013

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.

© 2019 VCPOST, All rights reserved. Do not reproduce without permission.
Tags
Share

Comments

Join the Conversation

Subscribe to VCpost newsletter

Sign up for our Deals of the Day newsletter.
We will not spam you!

Real Time Analytics