Infosys rose 1.13% to Rs 3,395.40 at 15:04 IST on BSE, with the stock gaining in volatile trade on bargain hunting after Thursday's steep slide.
Meanwhile, the S&P BSE Sensex was up 41.68 points or 0.19% at 21,816.29
On BSE, so far 61,478 shares were traded in the counter as against average daily volume of 79,153 shares in the past one quarter.
The Infosys stock saw high intraday volatility. It fell as much as 0.48% at the day's low of Rs 3,341.35 so far during the day. It rose as much as 1.29% at the day's high of Rs 3,401 so far during the day. The stock had hit a 52-week low of Rs 2,190 on 29 April 2013. The stock hit a record high of Rs 3847.20 on 3 March 2014.
The stock had underperformed the market over the past one month till 13 March 2014, falling 6.38% compared with the Sensex's 7.83% rise. The scrip had also underperformed the market in past one quarter, falling 0.48% as against Sensex's 5.11% rise.
The large-cap company has equity capital of Rs 287.12 crore. Face value per share is Rs 5.
The Infosys scrip had slumped 8.54% in a single trading session to settle at Rs 3,357.50 on Thursday, 13 March 2014. The sell off was triggered by the company's CEO and Managing Director S.D. Shibulal's comments on Wednesday, 12 March 2014, that the company's sales growth for the current fiscal year may be near the lower end of its forecast as some of its clients are tightening spending on technology. Shibulal said that the company's revenue growth in the fiscal year that begins in April may also be slow if business momentum remains weak. Infosys' clients in the retail and manufacturing sectors are facing spending pressure, he said. Many of the factors that have led to the recent slowdown will continue to impact client spending at least in the initial part of fiscal year 2015, Shibulal said.
It may be recalled that Infosys had at the time of the announcement of Q3 December 2013 results on 10 January 2014 raised its revenue growth guidance in both rupee and dollar terms for the year ending 31 March 2014 (FY 2014). At that time, the company forecast 11.5% to 12% growth in revenue in dollar terms for FY 2014. At that time, the company had forecast 24.4% to 24.9% in revenue in rupee terms for FY 2014 based on rupee dollar conversion rate of 61.81 for the rest of the financial year.
Infosys' consolidated net profit jumped 19.4% to Rs 2875 crore on 0.5% increase in revenue to Rs 13026 crore in Q3 December 2013 over Q2 September 2013. The results are as per International Financial Reporting Standards (IFRS). Operating profit rose 14% to Rs 3620 crore in Q3 December 2013 over Q2 September 2013 on back of expansion in operating profit margin (OPM) by a sharp 330 basis points QoQ at 27.8% in Q3 December 2013. The OPM expanded by 170 basis points QoQ, excluding one-off visa cost of Rs 219 crore in Q2 September 2013.
Infosys is a global leader in consulting, technology and outsourcing solutions.
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