Infosys is trading higher by 1.3% at Rs 2,537 ahead of its second quarter earnings that are due to be announced tomorrow morning. The stock hit a high of Rs 2,577 has bouncing back by almost 4% from intra-day low of Rs 2,482 on the Bombay Stock Exchange.
The counter has seen huge trading activities with a combined 1.91 million shares changing hands on the counter till late noon deals, against an average 1.2 million shares that were traded daily in past two weeks.
Analysts at Angel Broking expect the EBITDA margin of Infosys to expand by 110 basis points on a quarter-on-quarter basis to 31.9%, aided by improvement in utilization level as freshers joining has been delayed by a quarter and due to rupee depreciation.
The street is widely expecting that the company will increase the annual revenue guidance atleast marginally upwards because of the Lodestone acquisition.
