Morning Bell !!!....Infosys rallied after the company announced Q2 Results

The key Indian stock indices advanced in early morning trade, due to strength in the IT space after India’s second largest IT company- Infosys Q2 results beaten market estimates. The company also increased its revenue and EPS guidance for FY12.

RIL, Infosys,Wipro,ICICI Bank, TCS,Bajaj Auto,BHEL,Tata Power, Sun Pharma, Siemens, RCOM, Ranbaxy were among the leaders in the Nifty and Sensex.

Tata Motors, NTPC,HDFC,M&M, Bharti Airtel, BPCL were among the notable losers in the Nifty and Sensex.

Infosys rallied after the company announced consolidated net profit of Rs. 19.06bn as compared to Rs. 17.22bn in the previous quarter. The company has posted consolidated net sales at Rs. 80.99bn as compared to Rs. 74.85bn in the previous quarter.

The BSE IT index is the top gainer, rose by more than 3%. The BSE Tech index is up by 2% while the Pharma index is up 1%. The BSE Auto index is the only one trading in the negative Zone

Market breadth is favorable for the bulls due to gains in the Small-Cap and Mid-Cap indices.


Stock In NEWS

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- Bosch strikes enters 14th day, company says ready for talks

- Sintex founders to up stake by 4.78% to 40%



Indices

SENSEX 16732.52 196.05 (1.19%)
NIFTY 5031.05 56.70 (1.14%)
CNX Midcap 7049.40 51.65 (0.74%)