Published on 17/07/2017 10:14:41 AM | Source: Dion Global Solutions Ltd.

Infosys shares up 1% on revenue growth outlook

Posted in Stock On The Move| #Infosys Ltd #IT Sector #Stock On The Move

Shares of Infosys rose over 1 per cent on the Bombay stock Exchange after IT major reported a 3.3 per cent year-on-year drop in net profit at Rs 3,483 crore for the first quarter ended June 30, 2017. Revenue for the quarter dropped 0.2 per cent to Rs 17,078 crore compared with Rs 17,120 crore in the corresponding quarter of last year. The company, however, continued to maintain its constant currency revenue growth guidance of 6.5 to 8.5 per cent. Following Q1, shares of company gained as much as 1.53 per cent to hit intra-day high of Rs 987.00 apiece on the Bombay Stock Exchange. The stocks were currently trading at Rs 981.75    against previous close price of Rs 972.05. In a similar fashion, shares of the company were trading 1.05 per cent higher at Rs 982.30 apiece on the National Stock Exchange. Meanwhile, the broader benchmark BSE Sensex was trading at 32,063.15, up 42.40 points, or 0.13 per cent, at 09:40 hours.