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Business Videos

Infosys unexpectedly raises forecast

Jan 11 2013 00:00 IST
India's number 2 software services provider Infosys raised its revenue forecast after posting stronger-than-expected quarterly profit today, triggering a near 17 percent surge in its shares. With these figures, the company is set for their biggest gain in more than a decade. Many investors had dumped shares in the company after a string of disappointing quarters eroded Infosys' reputation as the sector bellwether, putting pressure on CEO S D Shibulal to win more deals and make the firm more profitable. However, new deals, including 13 in Europe, helped boost Infosys' revenue.