 "IT shares trade firm post Infosys Q2 results")
Shares of information technology (IT) companies are trading firm in otherwise weak market after the Infosys has reported a better-than-expected consolidated net profit growth for the quarter ended September 2014 and announced a 1:1 bonus issue.
Infosys, the largest gainer among IT pack, has surged 6% to Rs 3,848 on National Stock Exchange. The stock opened at Rs 3,660 and touched high of Rs 3,854 so far.
HCL Technologies, Wipro, Hexaware Technologies, Tech Mahindra and Tata Consultancy Services (TCS) are trading in green by up to 2%.
The NSE CNX IT index, the sole gainer among sectoral indices, was up 2.3% compared to 1% decline in benchmark index CNX Nifty at 0950 hours.
India's second largest software exporter Infosys today reported a 7% sequential growth in consolidated net profit at Rs 3,096 crore for the second quarter of 2014-15. It was Rs 2,886 crore in the first quarter.
Total consolidated revenues, grew 4.5% to Rs 13,342 crore in September quarter against Rs 12,770 crore in June quarter, Infosys said in a statement.
Analysts, on an average, had expected profit of Rs 3,033 crore on revenues of Rs 13,315 crore for the quarter.
The board also declared interim dividend of Rs 30 per equity share.
Among the individual IT stocks, HCL Technologies and Hexaware Technologies gained 2% each, while Wipro and TCS up less than 1% on NSE.