Infosys stock soars 15% as Q1 results meet market estimates

Shares of IT bellwether Infosys shot up by nearly 15 per cent in early morning trade, after the company reported first quarter results in-line with market expectations.

Following the results, shares of Infosys opened the day on a positive note and as the trade progressed it further jumped 14.96 per cent to Rs 2,905 on the BSE.

At the NSE, the scrip zoomed by 14.92 per cent to Rs 2,905.60.

“Infosys reported reasonably good numbers. Results are in-line with market estimates. The stock is seeing robust buying on the back of good guidance and positive quarterly numbers,” Paras Bothra, Research Head at Ashika Stock Brokers, said.

Spurt in Infosys scrip was significant in sending the BSE benchmark Sensex higher by 119.15 points to 19,795.21 at 09: 25 hrs. Infosys alone contributed 166.15 points to the overall market gain.