Infosys remains volatile
Infosys had hit a new life time high today at Rs. 3581 in the early morning trades and since then it has slipped down into the red, currently at Rs.3551.25, down less than 0.5%; nevertheless in the red.
The stock has been volatile since Friday. The company’s reorg news has brought in some succor. After the almost mass exodus of the top management, it announce on Friday of appointing BG Srinivas and UB Pravin Rao as presidents with immediate effect. More than this news, the stock is reacting to the expected Q3 financials on 10th Jan. The third quarter is usually the “lean” period for IT companies, given the holiday season in USA. But the market is expecting the company to up its guidance based on the US economy now showing signs of strengthening.