Infosys rose 1.28% to Rs 3,495.10 at 9:16 IST on BSE after the company raised its revenue growth guidance for the year ending 31 March 2014.
Meanwhile, the BSE Sensex was up 11.02 points, or 0.05%, to 20,724.39.
On BSE, so far 48,000 shares were traded in the counter, compared with an average volume of 89,699 shares in the past one quarter.
The stock hit a high of Rs 3,529.90 and a low of Rs 3,449 so far during the day. The stock hit a record high of Rs 3,581 on 6 January 2014. The stock hit a 52-week low of Rs 2,190 on 29 April 2013.
The stock had outperformed the market over the past one month till 9 January 2014, rising 3.40% compared with the Sensex's 2.87% fall. The scrip had also outperformed the market in past one quarter, rising 11.05% as against Sensex's 2.29% rise.
The large-cap company has an equity capital of Rs 287.12 crore. Face value per share is Rs 5.
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Infosys raised its revenue growth guidance in both rupee and dollar terms for the year ending 31 March 2014 (FY 2014). The company expects consolidated revenues in rupee terms to grow 24.4%-24.9% for FY 2014, under IFRS (assuming a rupee dollar conversion rate of Rs 61.81 for the rest of the fiscal year). The company expects consolidated revenues in dollar terms to grow 11.5%-12.0% for FY 2014, under IFRS.
At the time of announcement of Q2 September 2013 results in October 2013, Infosys had raised its revenue guidance in both dollar and rupee terms. The increase in revenue growth guidance in rupee terms was driven by weakness in rupee against the dollar. The company had at that time forecast 9% to 10% growth in revenue in dollar terms for FY 2014. At that time, the company had issued a forecast of 21% to 22% growth in revenue in rupee terms based on the assumption of rupee dollar conversion rate of 62.61 for the rest of the fiscal year.
On a consolidated basis, Infosys' net profit grew 19.4% to Rs 2875 crore on 0.5% rise in revenues to Rs 13026 crore in Q3 December 2013 over Q2 September 2013. Infosys had made a provision of Rs 219 crore towards visa related expenses in Q2 September 2013. The results are as per International Financial Reporting Standards (IFRS).
"The year ahead looks exciting for the IT services industry. We believe the global economic environment has improved and our clients are gaining confidence to invest in their strategic initiatives. said S. D. Shibulal, CEO and Managing Director. We continue to differentiate ourselves to seize growth opportunities. The recent changes in organizational structure will enable us to strengthen client relationships and increase market share."
"During the quarter, we saw early but promising results of our initiatives to increase efficiency in our operations," said Rajiv Bansal, Chief Financial Officer. "We continue to remain focused on making investments necessary to secure and grow our future."
Liquid assets including cash and cash equivalents, available-for-sale financial assets, certificates of deposits and government bonds were Rs 27,440 crore as on 31 December 2013 versus Rs 26907 crore as on 30 September 2013.
Infosys and its subsidiaries added 54 clients during the quarter. The company and its subsidiaries reported a gross addition of 6,682 employees for the quarter. Infosys and its subsidiaries had 158,404 employees as on 31 December 2013.
Infosys said its board at its meeting held on 10 January 2014, appointed Mr. U. B. Pravin Rao as an Additional Director & Whole-time Director of the company with immediate effect.
The board also appointed Ms. Kiran Mazumdar-Shaw as an Additional (Independent) Director of the Company with immediate effect.
Infosys is a global leader in consulting, technology and outsourcing solutions.
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