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01-01-1970 12:00 AM | Source: Reuters
India's Infosys jumps on upbeat outlook, buyback plans
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Shares of Indian IT major Infosys Ltd rose as much as 4.6% to a one-month high on Friday, after it raised revenue outlook and announced a $1.13 billion share buyback.
The Bengaluru-based firm now expects 15%-16% revenue growth in the fiscal year ending March, compared with 14%-16% earlier.
It reported a better-than-expected 11% rise in second quarter profit on strong margin expansion and outsourcing order wins.
The shares marked their sharpest intraday percentage gain since May 30.
($1 = 82.2240 Indian rupees)
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