Infosys peaks on good Q2, but slips later

Shares of IT major Infosys Technologies today touched its lifetime peak of Rs 3,249 at the Bombay Stock Exchange on good second quarter results, but later declined by 1.65 per cent as investors booked profits.

Shares of the company started the day on a positive note, reflecting a rise of 1.05 per cent on BSE, boosted by a 13.15 per cent jump in consolidated net profit at Rs 1,737 crore.

However, the scrip could not carry the momentum due to profit booking by investors and fell by 1.65 per cent to touch an early low of Rs 3,127.

Prior to this, the stock had registered a gain of 3.67 per cent in the last three trading sessions on the BSE. It had closed at Rs 3,184.25 in the previous trading session.

On the National Stock Exchange today, Infosys was trading at Rs 3,130.90, down by 1.71 per cent.

The company had a net profit of Rs 1,535 crore in the September quarter of the previous fiscal (2009-10). The consolidated revenue of the country's second largest software exporter rose to Rs 6,947 crore against Rs 5,585 crore over the year-ago period.

Moreover, the BSE IT index was trading at 6,178.83, down by 100.44 points, driven by fall in other IT majors, including TCS, which was quoting at Rs 966, down by 2 per cent and Wipro at Rs 479.60, lower by 2.34 per cent.

Meanwhile, the BSE Sensex was trading lower by 113 points at 20,385.18 after a good start.