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11 Oct 2008

Infosys results fail to bring cheer for stock market: Infosys safe strategy

1. Infosys Technologies surprised the Dallal Street with a better than expected results for second quarter of FY09 as it reported a 30.2 per cent rise in net profit for the September quarter.

2. Infosys has posted net profit of Rs 1,432 crore against Rs 1,302 crore in previous quarter.

Infosys CEO Announcing Result

3. It is heartening to note that the company has been able to make good with strengthening of rupee against the dollar and as a net result its revenues have shot up by 11.6% to Rs 5,418 crore from Rs 4,854 crore, QoQ.

4. However market did not spare the stock and thus keep an eye on the level of Rs 1199 because if this level is broken than Infosys can touch the magic 3 figure digit mark in its stock price.

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