Infosys Share Touches New Record High

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Infosys share price touched its one-year or 52-week-high on Friday at Rs.847-per share up by 1.6% intraday- high on the National Stock Exchange (NSE). The Share closed at Rs.840.25 up by Rs.6.20 or 0.74% from its previous closing on the NSE. Infosys share outperformed today both on Sensex and Nifty.

Thus far this year, Infosys share price has scaled up over 25pc and has hit its new one-year-highs many a time on the NSE. The surge in share price was aided by strong revenue growth IT in general and bright outlook in Infosys in particular from various brokerages.

At the earning front, Infosys has reported a 6.8pc declines in profits from the preceding quarter, however, the IT major increased its full-year revenue in constant currency terms to 8.5pc to 10pc on year-year-basis. For the April-June quarter, the company reported a 1.23pc rise in consolidated sales to Rs.21803-Cr from Rs.21539 in March.

Strengthening of the U.S dollar V/s other major currencies has also helped boost the gains on IT companies. Further, strong demand, large deals and an increase in the share of the IT segment have improved the IT Sector to a great extent.

On closing market, the Nifty IT index mildly ended up by 0.02% percent higher at 16034-level, led by gains in Infosys, Tech Mahindra and Tata Elxi. To avail Nifty tips go through the link given.

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