Infosys shares climb over 7% on better-than-expected rise in Q1 net profit; market-cap zooms by Rs 17,636 cr

New Delhi: Shares of Infosys jumped over 7 percent on Monday, adding Rs 17,636 crore to its market valuation, after the IT behemoth posted a better-than-expected rise in its June quarter net profit. The scrip zoomed 7.20 percent to close at Rs 779.45 on the BSE. During the day, it advanced 7.46 percent to Rs 781.40 – its 52-week high. On the NSE, shares climbed 7.24 percent to close at Rs 779.40. Led by the rally in the scrip, the company’s market valuation rose by Rs 17,636.08 crore to Rs 3,34,777.08 crore on the BSE. [caption id=“attachment_4240995” align=“alignleft” width=“380”] Representational image. Reuters.[/caption] In terms of traded volume, 11.68 lakh shares changed hands on the BSE and over 3 crore shares were traded on the NSE during the day. It was the top gainer among the frontline companies on both key indices during the day. Infosys on Friday posted better-than-expected 5.3 percent rise in its June quarter net profit as it bagged more orders, and raised revenue growth forecast for the current fiscal to 8.5-10 percent range. The IT services firm posted a net profit of Rs 3,802 crore in April-June as compared to Rs 3,612 crore in the same period of the previous fiscal, the company said. Revenue from operations rose 14 percent to Rs 21,803 crore. The Bengaluru-based company secured $2.7 billion - its highest ever in a quarter - in large deals, mostly in dominant North American and European markets. The company has raised its revenue growth guidance for the fiscal to March 31, 2020, to be between 8.5 percent and 10 percent, from the 7.5 percent to 9.5 percent range it had forecast earlier.