Infosys Shares Surge Amidst Quarterly Profit Rise

Infosys shares climbed over 2% after the company reported a sequential rise in net profit for the March quarter. Despite an annual decline, Infosys managed a profit increase from the previous quarter, boosting investor confidence. The IT giant announced plans to hire 20,000 freshers in the coming fiscal year.

On Monday, Infosys shares saw a notable increase, climbing over 2% after the company reported a 3.3% rise in net profit sequentially for the March quarter.

The stocks rebounded following a muted start, rallying 3.61% to reach Rs 1,471.50 during intra-day trading on the BSE, ultimately closing at Rs 1,450.45, up by 2.13%. On the NSE, the shares settled at Rs 1,449, marking a 2.07% rise.

The company's market valuation gained Rs 12,563.63 crore, reaching a total of Rs 6,02,410.10 crore. Infosys' CEO, Salil Parekh, stated a cautious revenue growth forecast amidst environmental uncertainties, while plans to recruit 20,000 freshers were confirmed for the fiscal year.

(With inputs from agencies.)