Sensex reenergised as Infosys net rises

Mumbai, Oct 11 (UNI) The Bombay Stock Exchange Sensitive Index (Sensex) is today upbeat and trading 75.91 points up at 12,439.68, as Infosys reported net profit of Rs 929 crore for Q2 September 2006 and had a spill over effect on other IT stocks.

The sensex today touched a high of 12,514.18, however it pared gains later in the day, the low was at 12,409.03 points.

The consolidated revenue of Infosys rose 50.4 per cent to Rs 3,451 crore from Rs 2,294 crore. The core operating profit margin (OPM) has inched ahead to 32.1 per cent from 31.9 per cent. On a sequential basis, OPM has risen from 29.5 per cent of Q1 June 2006.

Infosys today revised upwards its EPS and revenue growth guidance for FY 2007 (year ending 31 March 2007). The company has forecast revenue of between Rs 13,853 crore and Rs 13,899 crore for FY 2007, transforming into projected year-on-year growth of 45.5 - 46 per cent. EPS for FY 2007 is forecast at Rs 66, which transforms into a projected year-on-year growth of 46.6 per cent.

Amongst the sectoral indices IT was up by 3.73 per cent and Teck was up by 2.45 per cent. However, other sectors except oil&Gas were all down in the red.

Major gainers on the BSE-30 index were- Infosys up by 4.31 per cent post results and had spilling effect on other IT scrips like TCS which was up by 3.58 per cent, Satyam up by 2.57 per cent and Wipro was up by 2.43 per cent.

Besides the losers were Gujarat Ambuja, Tata Motors, Hindalco, HLL, Hero honda and L&T all down between 0.94 per cent to Rs 2.64 per cent.

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