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Infy gives good results. Markets correct further.

Infosys Technologies has announced a jump of 4% in its net profit, compared to the previous quarter. The markets have been taken by surprise with the results of Infy, and the stock has moved up by 3% in today’s trade.

The company has announced its net profit at Rs. 2992 crores, an increase of 4 percent while compared to that in the previous quarter. The dollar growth guidance has been announced as 7-9%. With these sets of numbers, Infy has announced a dividend of Rs 43 per share for the financial year of 2013-14.

The stock of Infy has moved up in today’s trade. The stock went up by 4% and then cooled off from there.
Infy is trading at 3338, up by 3.2%.

Markets correct further

The BSE Sensex has lost further 154 points to trade at 22476. The NSE Nifty has lost 46 points at 6730.

Financial major HDFC has been the top loser on the index. The stock has lost 3.2% to trade at 888. Real estate major DLF has lost 3% to trade at 170.

Auto major M&M has further lost 2.1% at 983. HDFC Bank, Bajaj Auto have also lost 2% each. Hero Moto corp has also lost 2% in the trade today.

Some of the cement stocks namely Ambuja Cements and Ultratech cements have lost 2% in the trade.

However liquor company MC Dowell has gained 11% in the trade today.



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