Infosys shares surge almost 12% after Q1 results

A day after posting a 12 per cent year-on-year growth in its net profit at Rs 4,233 crore for the quarter ended June 30, share prices of IT software major Infosys on Thursday surged by 11.8 per cent to Rs 929.80 per share.

Equity benchmark indices showed an upward trend during early hours on Thursday amid mixed global trends with gains led by IT stocks.

At 10:15 am, the BSE S&P Sensex was up by 255 points or 0.71 per cent at 36,307 while the Nifty 50 edged higher by 55 points or 0.52 per cent at 10,673.

However, all sectoral indices at the National Stock Exchange were in the red except for Nifty IT which jumped by 4.3 per cent and auto which crawled up by 0.3 per cent.

Tata Consultancy Services gained by 3.5 per cent, HCL Technologies by 2.7 per cent, Tech Mahindra by 0.8 per cent and Wipro by 0.3 per cent.

The other prominent gainers were Eicher Motors, Maruti Suzuki, Mahindra & Mahindra and Bajaj Finance. However, Bharti Infratel, IndianOil Corporation, ITC, UPL, Titan and Coal India were in the negative zone.

Meanwhile, Asian markets were mixed with Japan's Nikkei slipping by 0.68 per cent and Hong Kong's Hang Seng by 1.15 per cent.

Investors awaited the outcome of EU leaders' summit later this week on stimulus and deepening fiscal integration amid the coronavirus crisis.

(With agency inputs)