financetom
Market
financetom
/
Market
/
Infosys gains 4% intra-day ahead of Q2 results amid weakness in TCS
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Infosys gains 4% intra-day ahead of Q2 results amid weakness in TCS
Oct 11, 2019 2:54 AM

Infosys shares jumped almost 4 percent intra-day, touching the day's high at Rs 813.5 per share in early trade on Friday ahead of its July-September quarter results.

Share Market Live

NSE

India's second largest IT firm is due to release its second-quarter earnings on Friday and is expected to report dollar revenue growth of around 2.8 percent. In the constant currency term, Infosys is likely to see growth of 3.5 percent aided by the acquisition.

The Bengaluru-based firm has already raised its revenue growth guidance once this financial year to 8.5-10 percent in constant currency terms at the end of the June quarter, from 7.5-9.5 percent projected in April.

Meanwhile, shares of Tata Consultancy Services (TCS) fell nearly 4 percent on Friday after the company's September-quarter results failed to meet Street estimates, with most brokerages cutting their price targets for the stock.

Year-to-date, Infosys shares have gained 22.5 percent while the one-year-return is approximately 20 percent. In the last 10 years, Infosys has returned 196 percent to its investors.

Infosys shares quoted at Rs 801.55, higher by 2.36 percent on NSE at 11.09 am. The stock opened at Rs 781.50 from its previous close of Rs 783.05.

So far, over 83.43 lakh shares of the company changed hands on the NSE, compared to the three-month average daily volume of 81 lakh million shares.

Also, catch all the latest market action and updates with CNBCTV18.com's blog.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Copyright 2023-2026 - www.financetom.com All Rights Reserved