Software major Infosys Technologies today surged as much as 6% in the early trade on the bourses after the company reported decent growth in quarterly earnings driven by a good operating margin.
In the morning trade on the National Stock Exchange, the scrip opened firm at Rs 1,179.95. It surged to a high of Rs 1,228.60, up 5.94% from previous close.
On the Bombay Stock Exchange, shares of Infosys surged 5.31% to Rs 1,218. Over 19.75 lakh shares changed hands on the bourses.
For the quarter ended December 31, 2008, the IT bellwether posted a 33.31% growth in net profit at Rs 1,641 crore.
Marketmen said the scrip was driven mainly by the company's earning figures, which was above expectations of the street amid the glum.
"The corporate governance premium and the standard of meeting guidance, coupled withe Q3 figures beating street expectations has pulled some positive buyers for the scrip," Ashika Stock Brokers Research Head Paras Bothra said.
Infosys was later trading at Rs 1,215.90, up 5.13% on the BSE and at Rs 1221.20, up 5.3% on the NSE, at 1025 hrs.