Rising for the second consecutive day, shares of Infosys on Monday surged as much as 5 per cent on stronger—than—expected quarterly profit and upward full—year sales forecast.
Shares of the IT bellwether jumped 4.51 per cent to Rs 2,835 and currently quoting at Rs 2,799, (+3.19%) on the BSE.
At NSE, the stock climbed 4.6 per cent to Rs 2,836.95 and trading at Rs 2,800.70 (+3.27%).
The scrip had zoomed nearly 17 per cent on Friday.
“Infosys results were ahead of our estimates on all fronts. Improved management’s commentary illustrates that client confidence on IT spending is turning positive,” IndiaNivesh Securities said in a report.
Infosys net profit at Rs 2,369 crore in October—December was marginally lower than Rs 2,372 crore logged in the same period a year ago.
That prompted Infosys to raise its sales forecast by about 3 per cent to Rs 40,746 crore, including $104 million in additional revenue following the acquisition of Switzerland —based consultancy Lodestone Holdings.
In the October—December quarter, the IT major’s revenues (including that of acquired Swiss firm Lodestone) were up 12.1 per cent to Rs 10,424 crore. Its revenues stood at Rs 9,298 crore in the year—ago period.
The company has raised its sales forecast for FY13 to be “at least $7.45 billion” (from $7.34 billion stated earlier), including $104 million in additional revenue from Lodestone. This is about 6.5 per cent growth over last year.