Infosys Surges to Record as Profit Beats, Stock Dividend
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Infosys Ltd. surged to a record in Mumbai trading after India’s second-largest software services company said it will issue stock as dividend to shareholders and posted profit that beat analyst estimates.
Shares climbed 6.6 percent to close at 3,888.65 rupees. The board recommended investors get one share as dividend for each held, Bengaluru-based Infosys said. Second-quarter net income rose to 31 billion rupees ($507 million), beating the 29.6 billion-rupee median of analysts’ estimates.