 "Markets volatile post Infosys Q3 nos, BSE IT index up 3%")
Benchmark indices have turned extremely volatile post the announcement of Infosys’s Q3 numbers. The company has reported a net profit of Rs 3,250 crore for the third quarter ended December 31, 2014, up 4.9% from Rs 3,096 crore in quarter ended September 30, 2014.
At 13:30 PM, the 30-share Sensex was up 42 points at 27,317 and the 50-share Nifty was up 8 points at 8,243.
Among broader markets, BSE Midcap and Smallcap indices are trading mixed.
From the IT space, Infosys has moved higher by 5% to Rs 2,079, bouncing back nearly 9% from intra-day low after the company reported a better-than-expected 4.9% quarter-on-quarter jump in consolidated net profit to Rs 3,250 crore for the quarter ended December 31, 2014. The company had profit of Rs 3,096 crore in September quarter.
The net profit rose 13% on a year-on-year basis, as it won more outsourcing contracts from Western clients.
Moreover, the company maintained its guidance of 7-9% for the full year FY15, manging to beat street expectations on both net profit and US dollar guidance.
Among other IT majors, Mindtree, Tech Mhaindra, TCS, Wipro, Mphasis, Wipro and HCL tech have gained between 1-4%.
Other notable gainers from the Sensex pack are HUL, Dr Reddy’s Labs, Cipla, Tata Motors and Sun Pharma.
Tata Steel has gained over 1.5% to Rs 401 on the BSE (Bombay Stock Exchange) after Global rating agency Moody's has upgraded Tata Steel ("TSL")'s corporate family rating to Ba1 with a stable outlook.
Shares of pharmaceutical companies are trading higher by upto 5% on reports that the Indian and global companies are looking to invest over Rs 1,000 crore in Gujarat's pharma sector.
Wockhardt, Cadila Healthcare, Cipla, IPCA Labs, Dr Reddy’s Labs, Torrent Pharma, Sun Pharma and Divis Labs have gained between 1-5% on the BSE.
On the losing side, NTPC, Bajaj Auto, ITC, Bharti Airtel and Axis Bank have plunged between 2-4%.
At 13:30 PM, the 30-share Sensex was up 42 points at 27,317 and the 50-share Nifty was up 8 points at 8,243.
Among broader markets, BSE Midcap and Smallcap indices are trading mixed.
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On the sectoral front, BSE It index has surged over 3% followed by counter like Healthcare, which has gained by over 1%. On the losing side, BSE Realty index has plunged by nearly 2% followed by counters like Power, Metal and Banks, all slipping by 1% each.
From the IT space, Infosys has moved higher by 5% to Rs 2,079, bouncing back nearly 9% from intra-day low after the company reported a better-than-expected 4.9% quarter-on-quarter jump in consolidated net profit to Rs 3,250 crore for the quarter ended December 31, 2014. The company had profit of Rs 3,096 crore in September quarter.
The net profit rose 13% on a year-on-year basis, as it won more outsourcing contracts from Western clients.
Moreover, the company maintained its guidance of 7-9% for the full year FY15, manging to beat street expectations on both net profit and US dollar guidance.
Among other IT majors, Mindtree, Tech Mhaindra, TCS, Wipro, Mphasis, Wipro and HCL tech have gained between 1-4%.
Other notable gainers from the Sensex pack are HUL, Dr Reddy’s Labs, Cipla, Tata Motors and Sun Pharma.
Tata Steel has gained over 1.5% to Rs 401 on the BSE (Bombay Stock Exchange) after Global rating agency Moody's has upgraded Tata Steel ("TSL")'s corporate family rating to Ba1 with a stable outlook.
Shares of pharmaceutical companies are trading higher by upto 5% on reports that the Indian and global companies are looking to invest over Rs 1,000 crore in Gujarat's pharma sector.
Wockhardt, Cadila Healthcare, Cipla, IPCA Labs, Dr Reddy’s Labs, Torrent Pharma, Sun Pharma and Divis Labs have gained between 1-5% on the BSE.
On the losing side, NTPC, Bajaj Auto, ITC, Bharti Airtel and Axis Bank have plunged between 2-4%.