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Infosys shares hit record high
Shares in Infosys Technologies, India’s second-largest outsourcer, rose as much as nearly 2 percent to a record high of 2,882 rupees on Friday on optimism about quarterly earnings next week.
The company unveils its quarterly earnings on June 13. Its earnings are often dubbed as a trendsetter for sectoral peers.
India’s leading information technology exporters should report robust quarterly sales, thanks to improving demand from their mainstay financial clients, but Europe’s debt crisis and rising salaries could cap their outlook.
Macquarie expects Infosys to raise fiscal year 2011 U.S. dollar revenue growth guidance to 17-19 percent from 16-18 percent.
Would you invest in Infosys ahead of its earnings?