Upbeat Infosys Q4 numbers drives TCS, Wipro and HCL Tech stocks higher

Stocks

oi-Sunil

By Sunil Fernandes

Published: Tuesday, April 15, 2014, 10:29 [IST]

Better than expected Q4 results from IT major Infosys drove the stock prices of TCS, Wipro and HCL Tech higher.

The Infosys stock was up 3 per cent, while TCS rallied almost 2 per cent and Wipro and HCL Tech gained one per cent each. The gains were despite weak market sentiments with the Sensex trading lower.

Infosys reported numbers that were marginally better than estimates on several counts with consolidated net profit after tax for the quarter ending March 2014 coming in at Rs 2992 crores, as against Rs 2835 crores (quarter on quarter).

Rupee consolidated revenues for Q4 2014 has come in slightly below estimates at Rs 12,875 crores. The company has given a dollar revenue guidance of 7-9 per cent for 2015. The board of directors have recommended a dividend of Rs 43 per share.

GoodReturns.in