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Friday, 9 January 2015

Sensex, Nifty flat; Infosys surges 5% post Q3 results

After the initial sprint post Infosys results, the market has gone flat once again. The Sensex is up 26.35 points at 27301.06 and the Nifty is up 3.55 points at 8238.15. About 1255 shares have advanced, 1439 shares declined, and 397 shares are unchanged.

Boosted by better-than-expected December quarter results, Infosys is up 5 percent. The second largest software services exporter in India third quarter consolidated net profit rose 5 percent as against estimated growth of 1.9 percent. Profit increased to Rs 3,250 crore in the quarter ended December 2014 compared to Rs 3,096 crore in previous quarter.

Dollar revenue rose by 0.77 percent to USD 2218 million from USD 2201 million during the same period. The more soothing factor in today's results was its FY15 dollar revenue guidance that maintained at 7-9 percent, which analysts had expected to be cut.

Meanwhile, HUL, Dr Reddy's Labs, Cipla and Tata Motors are gainers in the Sensex. Among the losers are NTPC, Bajaj Auto, Axis Bank, Bharti and ITC. More information please visit this site www.bigprofitbuzz.com

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