Shares surged over 8% in Mon­day’s trade, hit a high of 1,267 on BSE

The Economic Times - - Companies -

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.

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