New Delhi, Jan 16 (PTI) Shares of IT services major Infosys jumped nearly 6 per cent on Friday after the company raised its revenue growth guidance for FY26.
The stock surged 5.65 per cent to settle at
Rs 1,689.40 on the BSE. During the day, it rallied 5.87 per cent to Rs 1,693.
At the NSE, the stock jumped 5.62 per cent to Rs 1,689.80.
The stock was the biggest gainer among the BSE Sensex and NSE Nifty firms.
Tracking the rally in the stock, the company's market valuation surged Rs 53,534.88 crore to Rs 7,01,889.59 crore.
After two days of losses, the 30-share BSE Sensex climbed 187.64 points, or 0.23 per cent, to settle at 83,570.35. The 50-share NSE Nifty rose 28.75 points, or 0.11 per cent, to 25,694.35.
"The IT sector outperformed, supported by an upward revision in revenue growth projections from a leading industry bellwether, coupled with expectations of increased technology spending," Vinod Nair, Head of Research, Geojit Investments Ltd, said.
The Bengaluru-headquartered firm saw its revenue from operations grow 8.9 per cent to Rs 45,479 crore in the third quarter of the current fiscal year, from Rs 41,764 crore in the year-ago period.
The company has raised its revenue growth guidance for FY26 to 3-3.5 per cent in constant currency, from 2-3 per cent earlier.
"IT stocks led the advance following strong Q3 numbers and upgraded guidance from Infosys, reinforcing confidence in large-cap earnings visibility," Ponmudi R, CEO of Enrich Money, an online trading and wealth tech firm, said.
Infosys on Wednesday reported a 2.2 per cent decline in consolidated net profit to Rs 6,654 crore in the December quarter, primarily weighed down by a one-time exceptional hit of Rs 1,289 crore from the implementation of new labour codes.
The company had posted a net profit (attributable to owners of the company) of Rs 6,806 crore in the same period last year.
Infosys CEO Salil Parekh exuded confidence in the company's run to become an AI frontrunner and said a strong momentum is being observed in AI adoption across Infosys' client base.
"Today, we work with 90 per cent of our largest 200 clients to unlock value with AI. We're currently working on 4,600 AI projects. Our teams have generated over 28 million lines of code using AI. We've built over 500 agents, we are scaling our forward-deployed engineer team," he said during the company's earnings call.
The BSE IT index jumped 3.39 per cent to 37,774.03. From the blue-chip firms, Tech Mahindra surged 5.17 per cent, Wipro (2.73 per cent), HCL Tech (1.82 per cent), and Tata Consultancy Services (0.45 per cent). PTI SUM TRB
