Infosys rose 1% to Rs 3,306.35 at 14:44 IST on BSE, extending Friday's 4.79% rise triggered by the company raising its revenue growth guidance for the year ending 31 March 2014.
The company issued the guidance after announcing Q2 September 2013 results before trading hours on Friday, 11 October 2013. Shares of Infosys jumped 4.79% to Rs 3273.90 on that day. The stock had risen 5.83% in two trading sessions from Rs 3,124.15 on 10 October 2013.
Meanwhile, the BSE Sensex was up 70.31 points, or 0.34%, to 20,598.90.
On BSE, 1.34 lakh shares were traded in the counter compared with average volume of 1.16 lakh shares in the past one quarter.
The stock hit a high of Rs 3,324.90 and a low of Rs 3,255 so far during the day. The stock hit a 52-week high of Rs 3,360 on Friday, 11 October 2013. 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 11 October 2013, rising 4.91% compared with the Sensex's 2.66% rise. The scrip had also outperformed the market in past one quarter, gaining 29.57% as against Sensex's 4.33% rise.
The large-cap company has an equity capital of Rs 287.12 crore. Face value per share is Rs 5.
On a consolidated basis, Infosys' net profit rose 1.4% to Rs 2407 crore on 15.1% increase in total revenues to Rs 12965 crore in Q2 September 2013 over Q1 June 2013. Infosys has 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).
Infosys said it now expects revenue in dollar terms to grow 9% to 10% in the year ending 31 March 2014 (FY 2014). This is an upward revision from its guidance of 6% to 10% which the company had given at the time of announcing Q1 June 2013 results in July this year. Thanks to depreciation of rupee against the dollar, Infosys has also raised its revenue growth guidance in rupee terms for FY 2014. The company now expects 21% to 22% growth in revenue in FY 2014, which is higher than its earlier forecast 13% to 17% growth.
Infosys and its subsidiaries added 68 clients during the quarter. There was a gross addition of 12,168 employees and net addition of 2,964 employees for the quarter by Infosys and its subsidiaries.
Infosys' liquid assets, including cash and cash equivalents, available-for-sale financial assets, and government bonds were Rs 26907 crore as on 30 September 2013, higher than Rs 24078 crore as on 30 June 2013.
Infosys is a global leader in consulting, technology and outsourcing solutions.
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