Infosys shares continue to rally; gain nearly 4%

In terms of equity volume, 9.08 lakh shares of the company were traded on BSE and over one crore shares changed hands at NSE during the day. Reuters photo

Shares of Infosys continued to gain Tuesday, rising by nearly 4 per cent, after the company approved share buyback and also raised its revenue growth forecast.

The scrip ended 3.66 per cent higher at Rs 726.55 on BSE. During the day, it jumped 4.12 per cent to Rs 729.80.

At NSE, shares of the company went up by 3.76 per cent to close at Rs 728.30.

In terms of equity volume, 9.08 lakh shares of the company were traded on BSE and over one crore shares changed hands at NSE during the day.

The stock had gained nearly 3 per cent in the previous trading session also.

India's second largest IT firm Friday reported 30 per cent drop in December quarter net profit on higher expenses even as it approved a Rs 8,260-crore share buyback -- the second in less than 13 months' time.

Its net profit slumped to Rs 3,610 crore in October-December 2018 from Rs 5,129 crore in the same period a year ago, the company said in a statement.

In spite of the drop in quarterly profit, the company raised its revenue growth forecast for 2018-19 to 8.5-9 per cent in constant currency terms, from 6-8 per cent previously. Revenue from operations rose 20.3 per cent to Rs 21,400 crore.

Infosys also declared a special dividend of Rs 4 per share.

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Infosys shares continue to rally; gain nearly 4%

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