Infosys trades in green on the BSE

28 Dec 2012 Evaluate

Infosys is currently trading at Rs. 2319.20, up by 32.35 points or 1.41% from its previous closing of Rs. 2286.85 on the BSE.

The scrip opened at Rs. 2300.00 and has touched a high and low of Rs. 2322.00 and Rs. 2290.20 respectively. So far 25788 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 2990.00 on 22-Feb-2012 and a 52 week low of Rs. 2101.65 on 26-Jul-2012.

Last one week high and low of the scrip stood at Rs. 2331.65 and Rs. 2277.15 respectively. The current market cap of the company is Rs. 133165.37 crore.

The promoters holding in the company stood at 16.04% while Institutions and Non-Institutions held 57.75% and 14.59% respectively.

India's leading software services provider, Infosys has reportedly once again put on back burner its recruitment plans for the proposed half of the 35,000 employees this fiscal because of a continued run of sluggish growth. Last month, the IT major deferred hiring of 17,000 new recruits by three months, but even this looks unlikely. The company now plans to defer recruitment of 17,000 to the first half of next fiscal (2013-14).

The IT major was expected to recruit about 35,000 employees, including 26,000 from campuses across various cities, this fiscal (2012-13). However, the FY13 gross hiring could fall short of the guidance given out in the first quarter this fiscal. Among fresh hires, the number will now be scaled down to 20,000. However, onsite hiring will continue to be maintained at about 2,000.

Further, the company is likely to slash its revenue forecast next month as US business clients defer spending and cringe at signing big deals. The company, which has missed its own revenue guidance in three of the past four quarters, has struggled as its big customers trimmed costs and has been criticized for sticking with a rigid pricing policy when competitors have offered more flexible plans.

The company is likely to update its outlook for the fiscal year ending in March when it reports quarterly results on January 11. A forecast cut would be the second this fiscal year. In July, Infosys divided its dollar revenue growth estimate from as much as 10% - forecast in April - to 5%.

Infosys Share Price

1422.00 -2.85 (-0.20%)
15-May-2024 14:10 View Price Chart
Peers
Company Name CMP
TCS 3890.05
Infosys 1422.00
HCL Tech. 1336.50
Wipro 457.95
Tech Mahindra 1275.00
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