Sensex sees volatility
Sensex is witnessing high volatility, swinging between positive and negative zone. It had opened on a weak note at 13331.38 and went on to touch a low of 13303.22, as selling continued. But from here the Sensex recovered, as buying support emerged, and hit a high of 13476.70. But it slipped again from here, as fresh selling emerged. But it has still in the positive ground, after declining since the past five trading sessions.
At 10:45 IST, the BSE Sensex was up 65.15 points to 13,427.65.The market breadth was strong on BSE with 1381 shares advancing as compared to 981 that declined. 59 were unchanged.The total turnover on BSE amounted to Rs 1537 crore.Among the Sensex pack, 25 advanced while the rest declined.Frontline IT stocks witnessed portfolio churning after IT bellwether Infosys unveiled its December quarterly results.
Infosys was trading at 2134 ,down 30 points.The stock came off lower level after it had lost as much as 3.1% to a low of Rs 2100 at the onset of the trading session. Its high for the day was at Rs 2168.
Infy Q3 net rises 51.5%, beats forecast
Infosys Technologies on Thursday posted a 51.5 per cent increase in net profit at Rs 983 crore for the quarter ended December 31, as compared to Rs 642 crore for the same quarter last year.
However, there have been no surprises in the Infosys quarter 3 results. Even though margins took a hit by more than 2 per cent basis points this quarter, it was not unexpected due to the rupee movement. The total income increased by almost 47 per cent for the third quarter ended December 31, the company informed the Bombay Stock Exchange.
According to Nandan Nilekeni, the chairman and managing director of the company, Infosys has registered a 10.1 per cent growth in dollar terms. According to him Q3 has been a very satisfactory quarter. “The growth has been on target”. He further said that the good results were due to accelerated growth in Europe. And Europe continues to be the focus market for Infosys in FY07.” In Q3, the company’s net margin has been impacted by 2.6 per cent, but the company added 43 new clients.
Giving guidance for Q4, Nilekeni specified that the company sees EPS of Rs 17.88 for Q4 March 2007, year on year growth of 46.3%. It has forecast income in the range of Rs 3789 crore to Rs 3798 crore for Q4 March 2007, year on year growth of 44.4% to 44.7%. For the full year FY 2007, Infosys has forecast EPS of Rs 66.63, year on year growth of 48%. This is higher than its earlier guidance of an EPS of Rs 66 for the year.
The company will also focus on increasing the geographical spread from Europe and the US to the other parts of the world.Nilekeni also said that attrition in the company was still not a cause of worry and did not see IT spending slowing down in the US. He said, the new customers were entering at higher price points and therefore there was higher billing.
The group posted a net profit after tax, exceptional item and minority interest of Rs 983 crore for the quarter ended December 31, as against Rs 649 crore for the same quarter last year.
The total income of the group increased to Rs 3,714 crore for the third quarter of this fiscal from Rs 2,527 crore for the corresponding quarter in the previous year.
Read More
Infy ups revenue guidance for FY 2007
Comments from analysts
At 10:45 IST, the BSE Sensex was up 65.15 points to 13,427.65.The market breadth was strong on BSE with 1381 shares advancing as compared to 981 that declined. 59 were unchanged.The total turnover on BSE amounted to Rs 1537 crore.Among the Sensex pack, 25 advanced while the rest declined.Frontline IT stocks witnessed portfolio churning after IT bellwether Infosys unveiled its December quarterly results.
Infosys was trading at 2134 ,down 30 points.The stock came off lower level after it had lost as much as 3.1% to a low of Rs 2100 at the onset of the trading session. Its high for the day was at Rs 2168.
Infy Q3 net rises 51.5%, beats forecast
Infosys Technologies on Thursday posted a 51.5 per cent increase in net profit at Rs 983 crore for the quarter ended December 31, as compared to Rs 642 crore for the same quarter last year.
However, there have been no surprises in the Infosys quarter 3 results. Even though margins took a hit by more than 2 per cent basis points this quarter, it was not unexpected due to the rupee movement. The total income increased by almost 47 per cent for the third quarter ended December 31, the company informed the Bombay Stock Exchange.
According to Nandan Nilekeni, the chairman and managing director of the company, Infosys has registered a 10.1 per cent growth in dollar terms. According to him Q3 has been a very satisfactory quarter. “The growth has been on target”. He further said that the good results were due to accelerated growth in Europe. And Europe continues to be the focus market for Infosys in FY07.” In Q3, the company’s net margin has been impacted by 2.6 per cent, but the company added 43 new clients.
Giving guidance for Q4, Nilekeni specified that the company sees EPS of Rs 17.88 for Q4 March 2007, year on year growth of 46.3%. It has forecast income in the range of Rs 3789 crore to Rs 3798 crore for Q4 March 2007, year on year growth of 44.4% to 44.7%. For the full year FY 2007, Infosys has forecast EPS of Rs 66.63, year on year growth of 48%. This is higher than its earlier guidance of an EPS of Rs 66 for the year.
The company will also focus on increasing the geographical spread from Europe and the US to the other parts of the world.Nilekeni also said that attrition in the company was still not a cause of worry and did not see IT spending slowing down in the US. He said, the new customers were entering at higher price points and therefore there was higher billing.
The group posted a net profit after tax, exceptional item and minority interest of Rs 983 crore for the quarter ended December 31, as against Rs 649 crore for the same quarter last year.
The total income of the group increased to Rs 3,714 crore for the third quarter of this fiscal from Rs 2,527 crore for the corresponding quarter in the previous year.
Read More
Infy ups revenue guidance for FY 2007
Comments from analysts
posted by SY at 12:16 PM
0 Comments:
Post a Comment
<< Home