Home / Market Beat / Infosys beats expectations. Q3 profit rises 21.4%. Markets cheer.

Infosys beats expectations. Q3 profit rises 21.4%. Markets cheer.

Infosys announces 21% rise in Q3 profit

The IT giant Infosys has delivered good news again under the leadership of Mr. Narayan Murthy. The company has seen a 21.4% rise in fiscal third-quarter profit.

Profits for the quarter ending on December 31, has seen a rise to Rs 2,875 crore from the earlier Rs 2,369 crore.

Mr. Narayan Murthy’s return to the Infosys management, has definitely helped the company to report a good set of numbers.

Markets have been cheered with the news. Stocks which have been trading low in the morning have seen good upticks.

The CNX Nifty is trading 30 points higher at 6196. The BSE Sensex is up by 109 points at 20823.

Infosys stock has surged by 3% to trade at 3564.

Following this, the TCS stock has moved up by 1.8% to trade at 2281, while Wipro is up by 2.2% at 552. HCL Tech is up by 0.6%.

JP Associates is the other stock on the index, which has seen good gains. The stock is up by 1.7% at 49.70. Indus Ind Bank is also up by 1.5%. Sunpharma, DLF and Asian Paints have all seen gains of over 1%.

Reliance industries is up by 1.3%.

Auto major M&M is however trading low with 2% cuts. Powergrid, Bajaj Auto and Coal India are also trading low with cuts of over 1% seen on each counter.


 

 

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