Infy results fail to cheer markets

The markets have opened on a weak note today inspite of the  better than expected results by IT bellwether, Infosys.   The Q4 results reported by IT bellwether, Infosys which were above the expectations. The stock is down 1% and the results have failed to have any effect.

The Sensex is now weak at 17,784, down 62 points. The NSE Nifty is 21 points down at 5,319.

The company has reported a net profit of Rs 1,617 crore for the fourth quarter ended March 2010, as per Indian GAAP standards.

Revenues during the period stood at Rs 5,944 crore.

The company has recommended final dividend of Rs 15/ per share.

Hero Honda has slipped 4% to Rs 2,003 and Infosys is down 1.5% at Rs 2,644.

Tata Motors, Sterlite, Reliance Communication and ICICI Bank have slipped 1% each.

Hindustan Unilever, Wipro, BHEL and Tata Power have added 0.5% each at Rs 225, Rs 706, Rs 2,541 and Rs 1,350, respectively.