Infosys shares jump nearly 5 pc after earnings announcement

Shares of Infosys climbed nearly 5 per cent in morning trade on Friday, after the company posted better-than-expected 11 per cent rise in consolidated net profit for the September quarter and announced buyback of shares.

The stock jumped 4.78 per cent to Rs 1,487.70 on the BSE.

At the NSE, it climbed 4.58 per cent to Rs 1,485.

Other IT stocks like HCL Technologies, Wipro and Tech Mahindra were also quoting higher.

The 30-share BSE index was trading 1,040.65 points or 1.82 per cent higher at 58,275.98 in morning trade.

India’s second largest IT services company Infosys on Thursday posted a better-than-expected 11 per cent rise in consolidated net profit at Rs 6,021 crore for the September quarter and announced buyback of shares worth Rs 9,300 crore.