IT stocksrallied on Fridayas Infosys' upbeat Q2 revenues and
full year guidance boosted confidence in the sector.
Infosys" revenues were at Rs 129.65 billion for the quarter
ended Sept. 30, 2013, representing a rise of 15.07% sequentially
and 35.65% rise year-on-year basis. Analysts had forecasted
revenues of 127.81 billion.
The company reported net profit of Rs 24.07 billion for the
quarter ended Sept. 30, 2013, registering a rise of 1.39%
sequentially and 1.6% rise year-on-year basis. However, profit
missed analysts estimate of Rs 26.14 billion.
BSE IT index went up 3.50% on Friday led by Infosys and HCL
Tech. IT stocks added Rs 260.39 bn in market capitalisation to Rs
Shares of Infosys surged the most with rise of 5.21%, followed
by HCL Tech (4.25%), Wipro (2.83%), Tech Mahindra (2.54%) and TCS
Top gainer in market capitalisation addition was TCS. It added
Rs 95.32 billion, which is followed by Infosys (Rs 93.51 bn), Wipro
(Rs 33.51 bn), HCL Tech (Rs 33.1 bn) and Tech Mahindra (Rs 4.95