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Infosys rises on hopes of better results

July 12, 2010

INDIA TECH

Shares in Infosys, India’s second-largest software exporter, rose as much as 1.4 percent to a 52-week high of 2,911.55 rupees, on expectations it would raise its dollar revenue forecast for the full year when it unveils results on Tuesday.

The scrip pared morning gains to close 0.8 percent higher at 2894 rupees with volumes of 0.1 million shares.

“Infosys is expected to outperform its forecast and upgrade its full-year outlook; plus it is good fundamentally,” said Harit Shah, IT analyst with domestic brokerage Karvy Stock Broking.

Most analysts expect Infosys, which reports June quarter results on Tuesday, to raise its revenue growth guidance in dollar terms for 2010/11 to 17-19 percent from 16-18 percent given in April.

Do you think Infosys shares will touch new highs tomorrow?

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