Infy, Wipro shares hog limelight after Q2 results
New Delhi: Shares of IT majors—Infosys and Wipro-- on Thursday zoomed after announcing their second quarter results. Shares of Infosys on Thursday jumped over five per cent after the company reported a better-than-expected 12 per cent rise in its second-quarter net profit. Infosys stock rose Rs6.75 or 0.40 per cent and closed at Rs1,715.50 on BSE.
Wipro jumped nearly eight per cent after it posted a 17 per cent jump in consolidated net profit for the quarter ended on September 30, 2021. However, later, Wipro stock closed with a gain of Rs35 or 5.20 per cent at Rs707.55 on BSE. During the intra-session, the stock jumped 7.59 per cent to its 52-week high of Rs 723.65 on BSE. On NSE, it gained 7.62 per cent to its 52-week high of Rs 723.90. "Reported strong financial performance with both revenue and EBIT margin above estimates. The deal booking remains strong and would support growth momentum," according to a report by YES Securities on Q2 FY22 result update on Infosys.
Infosys Ltd, India's second-largest IT services company, on Wednesday reported a better-than-expected 12 per cent rise in its second-quarter net profit on more contracts from global businesses, a reason that also led to raising its annual revenue outlook.