Stocks

Infosys gains nearly 1% ahead of Q1 results

PTI Mumbai | Updated on July 12, 2019 Published on July 12, 2019

Infosys is set to announce Q1 results on July 12.   -  Reuters

Shares of Infosys gained nearly one per cent in morning trade on Friday on the bourses ahead of the release of the June quarter results.

On the BSE, Infosys opened at ₹723.30, then gained further ground and touched a high of ₹726.95, up 0.80 per cent over its previous close. On the NSE, the stock opened at ₹722.50, then touched a high of ₹727.35, registering a rise of 0.81 per cent over its previous close. At 12.20 pm, the stocks of Infosys were trading 0.33 per cent higher at ₹723.25 in the BSE index.

“Infosys, a global leader in next-generation digital services and consulting, will announce results for the first quarter ended June 30, 2019 on Friday, July 12, 2019,” the company had said in a regulatory filing.

According to an Emkay Research report, net profit is expected to decline by 11 per cent QoQ due to lower other income and reduction in margins. “Street will look for signs of recovery in H2 and commentary on spending in key verticals such as BFSI as commentary from US-listed peers has been subdued,” it added.

Meanwhile, on July 9, the largest software exporter TCS reported a 10.8 per cent rise in June quarter net at Rs 8,131 crore. TCS, had reported a revenue growth of 11.4 per cent to Rs 38,172 crore during the quarter.

Published on July 12, 2019
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