Infosys technologies, India’s second largest software company, announced a better-than -expected quarterly earnings today, with the company’s quarterly profit (June – September) surging 53.5 percent. The company’s stock ended the day with a gain of around 4% on the National Stock Exchange of India, even in a choppy market. Nandan Nilekani, the chief executive and managing director of Infosys, said that he expects their outsourcing business to do well in spite of the economic slowdown in United States.

 

This company is now planning to sell up to 30 million shares in its latest offering of sponsored American Depository Receipts (ADRs), which is valued nearly $1.5 billion, based on the closing price of Infosys in NASDAQ, yesterday.

 

Most of the software companies in India are expected to deliver better-than-expected results this quarter, on the back of the exponential growth of the service sector in this country.

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