Infosys Zooms After Posting Stellar Q3 Numbers, Clean Chit To Top Brass

Infosys share: The stock soared by 34 points or 4.7 per cent after the company reported 10.9 per cent rise in Q3 numbers

Infosys Zooms After Posting Stellar Q3 Numbers, Clean Chit To Top Brass

Infy share: Infosys stock zoomed 34 points or 4.7 per cent to end at Rs 773 on the BSE

Infosys was in the limelight throughout the session after beating Street expectations in the third quarter of the current financial year. The IT bellweather stock ended at Rs 773, higher by 35 points or 4.7 per cent. It had opened at Rs 763 and touched an intra-day high of Rs 777 and a low of Rs 755 during the day.

India's second largest IT company reported net profit of Rs 4,457 crore for the period, which marked an increase of 10.9 per cent from Rs 4,019 crore in the previous quarter. The Bengaluru-based IT services company also raised its revenue guidance in constant currency terms for the ongoing financial year to range of 10-10.5 per cent from 9-10 per cent guided earlier. The results were declared after market hours on Friday.

In a related development, Infosys' audit committee absolved its CEO Salil Parekh from charges of financial impropriety and executive misconduct that were alleged by an anonymous whistleblower complaint.

The Infosys effect also rubbed on to the other listed IT stocks; Wipro gained 1.2 per cent at Rs 255, Tech Mahindra strengthened 1.3 per cent at Rs 786 and HCL Tech added 1 per cent at Rs 586. TCS, however, edged lower by 1 per cent at Rs 2,191.

The BSE Sensex was at 41,859, higher by 259 points or 0.6 per cent and the NSE Nifty was at 12,329, up 72 points or 0.5 per cent

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