Infosys shares rise 13% since Q1 earnings, trading in green today

Shares of Infosys Ltd rose in early deals ahead of the IT firm's September quarter earnings set to be announced today.  Infosys stock gained 2.02% to Rs 1958.70 today against the previous close of Rs 1919.90 on BSE. Market cap of the firm stood at Rs 8.07 lakh crore. Total 0.33 lakh shares of the firm changed hands amounting to a turnover of Rs 65.37 crore on Thursday. The IT stock has gained 13.50% since the firm announced its Q1 earnings on July 18 this year. 

The stock saw very low volatility with a beta of 0.7 in the last one year.

In terms of technicals, the relative strength index (RSI) of the Infosys stock stands at 50.8, signaling it's trading neither in the overbought nor in the oversold zone. Infosys shares are trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.

The IT firm reported a 7.1 per cent year-on-year (YoY) rise in net profit at Rs 6,368 crore for the June 2024 quarter compared with Rs 5,945 crore in the corresponding quarter last year. Revenue in Q2 grew 3.6 per cent YoY at Rs 39,315 crore against Rs 37,933 crore in the corresponding quarter of last year. Operating margin rose 30 bps to 21.1 per cent in Q1 against 20.8 per cent in the year-ago quarter.

The IT software exporter clocked a revenue growth guidance of 3-4 per cent for FY25 in constant currency (CC) terms. It suggested operating margin of 20-22 per cent for FY25. Earlier, the IT firm had suggested FY25 revenue growth guidance of 1-3 per cent.