Infosys shares witness volatile trend

Infosys shares turned volatile in early trade on Thursday, a day after the IT services major posted nearly 23 per cent rise in June quarter net profit and raised its revenue growth outlook for the full fiscal.

After a weak start, the stock went to a high of Rs 1,597.25, up 1.29 per cent on the BSE. Volatile trends emerged as the trade progressed and it dipped 1.62 per cent to Rs 1,551.25. Later, it was trading flat at Rs 1,581, marginally up by 0.26 per cent.

At the NSE, it hit a low of Rs 1,556 and high of Rs 1,596.85 after a muted start.

Infosys on Wednesday posted nearly 23 per cent rise in June quarter net profit at Rs 5,195 crore and raised its revenue growth outlook for the full fiscal to 14-16 per cent buoyed by its robust deal pipeline and "strong" Q1 performance.

Infosys, which has drawn flak over glitches in the new Income Tax portal, said this project is the biggest priority for the company right now and that it is working expeditiously to resolve the issues.

The Bengaluru-based company's revenue from operations grew 17.8 per cent to Rs 27,896 crore in the first quarter of FY22, from Rs 23,665 crore in the year-ago period.

Infosys upped its revenue guidance for FY22 to 14-16 per cent, from the previous outlook of 12-14 per cent, and said that its confidence stemmed from strong Q1 growth, good order wins and robust deal pipeline.