Infosys Soars 16% on Revenue Guidance and Flat Q3 Profit

Mukesh Buch
11 Jan, 2013
New York City

Bajaj Corp third quarter net profit soared 46% and CMC net profit jumped 24%. Infosys third quarter net profit was nearly flat at $434 million. Power Grid raised $500 million in its first foreign currency public offering.

[R]6:00 PM Mumbai – Bajaj Corp third quarter net profit soared 46% and CMC net profit jumped 24%. Infosys third quarter net profit was nearly flat at $434 million. Power Grid raised $500 million in its first foreign currency public offering.[/R]

The Sensex Index inched up 0.09 to close at 19,663.64 The CNX Nifty slipped 17.35 to close at 5,951.30. For the week, the BSE Sensex slid 0.6%.

Gainers & Losers

Bajaj Corp Limited climbed 4.2% to Rs 255 after the cosmetics maker said net profit in the third quarter soared 46.1% to Rs 42.20 crore.

CMC Limited gained 3.4% to Rs 1,334.85 after the company reported consolidated net profit in the third quarter jumped 24% to Rs 61.06 crore.

D B Corp decreased 1.7% to Rs 233.10 and trading volume jumped to 5,39,000 shares.

Infosys Limited surged 16.1% to Rs 2,694.60 and net profit in the third quarter was nearly flat at $434 million from a year ago.

The company lifted revenue outlook for fiscal 2013 by 1.5% to $7.5 billion from the earlier guidance of $7.3 billion

Kotak Mahindra Bank Limited declined 3.5% to Rs 630.40 after the bank allotted 5,71,887 equity shares of Rs 5 under the employee stock options.

Kanani Industries Limited closed unchanged at 37.10 after the jeweler wins order for Rs 128.70 million from New Way Gems based in Hong Kong.

Oil and Natural Gas Corporation Limited dropped 3.3% to Rs 292 after surging 17.8% in last twelve trading sessions.

Power Grid Corporation of India Limited slid 0.8% to Rs 113 after it raised $500 million in its first issue in foreign currency market.

Satyam Computer Services Limited jumped 4% to Rs 115.25 after the Andhra Pradesh high court stayed accounting irregularity trial for four weeks and trading volume climbed to 11,46,000 shares.

The Sandesh Limited rose 0.04% to Rs 275 after the board of directors considered the proposal for stock buyback.

Rolta India Limited extended gains for the second day by 2% to Rs 66.40 after its arm wins $31 million contract from Memphis Light Gas and Water for a supply chain project..

VKS Projects Limited declined 5% to Rs 240.45 after engineering procurement board approved stock split.