Infosys, TCS Shares Rally On Superb Results From Cognizant

Subscribe to GoodReturns
For Quick Alerts
For Daily Alerts

    Shares in Infosys, TCS and HCL Tech rallied after Cognizant reported Q2 net profits at $420.1 million and raised its revenue guidance to at least $3.14 billion for Q3.

    Infosys, TCS Shares Rally On Superb Results From Cognizant
    Infosys: Quotes, News
    BSE 656.35BSE Quote2.9 (0.44%)
    NSE 656.40NSE Quote3.2 (0.49%)
    HCL Technologies: Quotes, News
    BSE 989.00BSE Quote7.4 (-0.75%)
    NSE 988.75NSE Quote8.35 (-0.84%)
    The IT index was trading with gains of near one per cent following the Cognizant results. "Our strong performance has allowed us to raise our full year revenue and EPS guidance for the second time this year, despite the impact to our full year revenues from the announcement that Health Net would be acquired by Centene Corporation," said Karen McLoughlin, Chief Financial Officer.

    Foreign brokerages also upgraded Indian IT stocks like Infosys and TCS to a buy. The performance of technology majors in India has been mixed for the quarter ending June 30, 2015.

    While Infosys outperformed peers, TCS and HCL Tech disappointed the streets. In fact, HCL Tech has fallen sharply since its results, while Tech Mahindra also had nothing significant to boast in terms of performance.

    Read more about: infosys tcs hcl tech cognizant
    Story first published: Thursday, August 6, 2015, 9:58 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    Get Latest News alerts from Goodreturns

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more