Friday, Apr 12, 2013
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INFY DISAPPOINTS ON GUIDANCE; STOCK SINKS 21%
Infosys ' fourth quarter net profit rose slightly higher-than-expected 3% YoY (1% QoQ) to Rs 2,394 cr, helped by higher other income and lower tax expenses. However, its revenue growth of Rs 10,454 cr, up 18% YoY (0.3% sequentially), was lower than street expectation. What sent the shares tumbling was its lower guidance of 6-10% for FY14 against the NASSCOM's forecast of 12-14% for the IT sector. This poor guidance saw shares crashing by Rs 620 or 21% to Rs 2,296.65 today. read more |
INFY PULLS DOWN SENSEX 299 PTS; I.T. STOCKS TANK
Sensex recorded its biggest single-day fall of 300 pts since late February to close at 18,242.56 after lower-than-expected revenue guidance from Infosys raised concerns about the outlook for the I.T. sector. I.T. stocks suffered the most with Wipro falling 4.75%, TCS fell 1.64% & HCL Tech ended down 1.77% & the entire I.T. index tanked over 9%. Nifty fell 65.45 pts, at 5,528.55, and also posted a 0.44% fall for the week. read more |
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Infosys Has Lost Its Leadership Position, Stock May Be A Shorting Idea; Japan's Trumped India: Samir Arora, Helios Capital  |
Can't Cheer Feb IIP, But Recovery On Anvil; Global Economy Remains Weak, But India Is Much More Competitive Than It Was Before: Robert Prior-Wandesforde, Credit Suisse |
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| AT A GLANCE |
| BSE | 18242.56 | -299.64 |
| NSE | 5528.55 | -65.45 |
TURNOVER
Rs. 177,121 cr
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BSE CASH
Rs. 1,880 cr
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NSE CASH
Rs. 10,936 cr
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NSE F&O
Rs. 150,181 cr
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| BULLION |
| GOLD | 28806 | -378 |
| SILVER | 50282 | -1392 |
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| CRUDE |
| NYMEX | 91.23 | -2.28 |
| BRENT | 102.17 | -2.1 |
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| FOREX |
| $ / Re | 54.52 | +0.01 |
| £ / Re | 83.801 | +0.28 |
| € / Re | 71.393 | +0.22 |
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| EVENTS TO WATCH |
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| 13 April |
 | SAT Hearing Sahara-SEBI Case |
| IPL 6, Match 13, Mumbai Indians Vs Pune Warriors , Mumbai |
| Match 14, Chennai Super Kings Vs Royal Challengers Bangalore, Chennai |
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| 14 April |
| IPL 6, Match 15, Kolkata Knight Riders Vs Pune Warriors, Kolkata |
| Match 16, Rajasthan Royals Vs Kings XI Punjab, Jaipur |
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"We are confident, considering the deal wins in the last one year and the wins in the recent past, we feel that we are well positioned for the next year.Because of this volatility we also understand that growth is the biggest challenge for us and that we've to get the growth back, which will require some investment, accelerating investments in the marketplace, also differentiate our service offering."
Rajiv Bansal
Chief Financial Officer, Infosys
"Secretary General has actually shown significant progress in UN reform making the institution more efficient, more effective, We very much appreciate that & encourage that to continue, because we think we need a strong, healthy UN, but at a time when all the member countries are under severe fiscal constraints, we want to make sure, obviously, that the UN is operating as efficiently as possible."
Barack Obama
President, U.S.
"I think it (IIP growth in February) is consistent to what we have been saying that 2012-13 was not a good year and (the economic growth in) 2013-14 would be a lot better. I am glad that it (IIP) is not negative but it is very low."
Montek Singh Ahluwalia
Dy Chairman, Planning Commission
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