Infy single handedly pushes Sensex up by 100 points

The stock of Infosys was buzzing in Monday's morning session after reporting a good set of numbers for the June quarter. The company's Q1FY20 results indicated positive revenue guidance.

The index heavyweight was up more than 5 per cent at Rs. 765.55 per share in the morning session contributing positive 140 points to Sensex's gains. The BSE Sensex was at 38,845.53, up by 109.30 or 0.28 per cent at 10:07 hours. Other stocks contributing to the index gains were Sun Pharma, TCS and HDFC Bank contributing more than 10 points each.

Infosys Q1FY20 results highlights includes 41.9 per cent YoY growth in Digital revenue and overall consolidated revenue growth of 12.4 per cent YoY in constant currency terms. The company also reported signing its largest ever deal of total contract value (TCV) US$2.7 billion in the quarter. The company’s management raised the revenue guidance for FY20 to the range of 8.5 to 10 per cent in constant currency term. Further, it maintained its operating margin guidance in the range of 21-23 per cent.

Also, the company's board has approved a follow-on investment of US$ 6 million in Trifacta Incorporated, which adds to the earlier investment of US$ 4 million in 2016. Infosys cumulative investment in Trifacta is now at US$ 10 million for a minority holding not exceeding 20 per cent of the company's share capital. Trifacta is a self-service data preparation enterprise software company. The company's software help in independent data preparation of Big Data by Data Scientists and end-user businesses.