Infosys shares climb over 7 pc; m-cap zooms by Rs 17,636 cr after Q1 results

New Delhi Jul 15:  Shares of Infosys jumped over 7 per cent Monday, adding Rs 17,636 crore to its market valuation, after the IT behemoth posted better-than-expected rise in its June quarter net profit.

The scrip zoomed 7.20 per cent to close at Rs 779.45 on the BSE. During the day, it advanced 7.46 per cent to Rs 781.40 — its 52-week high.

On the NSE, shares climbed 7.24 per cent to close at Rs 779.40.

Led by the rally in the scrip, the company’s market valuation rose by Rs 17,636.08 crore to Rs 3,34,777.08 crore on the BSE.

In terms of traded volume, 11.68 lakh shares changed hands on the BSE and over 3 crore shares were traded on the NSE during the day.

It was the top gainer among the frontline companies on both key indices during the day.

Infosys Friday posted better-than-expected 5.3 per cent rise in its June quarter net profit as it bagged more orders, and raised revenue growth forecast for the current fiscal to 8.5-10 per cent range.

The IT services firm posted a net profit of Rs 3,802 crore in April-June as compared to Rs 3,612 crore in the same period of the previous fiscal, the company said.

Revenue from operations rose 14 per cent to Rs 21,803 crore.

The Bengaluru-based company secured USD 2.7 billion – its highest ever in a quarter – in large deals, mostly in dominant North American and European markets.

The company has raised its revenue growth guidance for the fiscal to March 31, 2020, to be between 8.5 per cent and 10 per cent, from the 7.5 per cent to 9.5 per cent range it had forecast earlier.