Shares surged over 8% in Monday’s trade, hit a high of 1,267 on BSE
New Delhi: Shares of Infosys were on a high in Monday morning trade, surging over 8% in trade after company posted a strong guidance for FY2017 and delivered a strong set of numbers in March quarter earnings.
The IT giant posted a net profit growth of 3.9% in QoQ terms and 4.1% sequential revenue growth. Its net profits for the quarter under review stood at ₹ 3,597 crore compared with ₹ 3,465 crore.
Reacting to the earnings, the scrip gained 8.17% to hit its fresh 52-week high of ₹ 1,267 on the BSE. The stock had rallied up to 10% till April 13. “Overall, the trend of the stock is bullish. It has seen a mild
The company has guided for revenue growth in constant currency terms at 11.5-13.5% for the financial year ending March 31, 2017. Its dollar revenue guidance came in at 11.8-13.8%. Both guidance numbers were above most analysts’ expectations.