|
| Patni Computers zooms to 52-week high |
| BS Reporter / Mumbai Jul 31, 2009, 16:16 IST |
|
The scrip finally setteled at Rs 361, up over 10% from the previous close. The counter clocked volumes of 1.38 million shares as compared to the two-week daily average traded volumes of 286,257 shares on the BSE. The stock soared over 31% in this week.
______________________________________________________
(Updated at 1150hrs)
Patni Computers has zoomed 9% following a 14% rise in net income.
The stock today opened at Rs 330 and sky-rocketed 12% to touch a new 52-week high of Rs 368. The stock is now trading with a gain of 9.5% at Rs 358. Volumes have jumped three-fold to 825,692 shares as against its two-week daily average trade of 286,257 shares on the BSE so far.
Patni Computers announced its Q2 results yesterday before market hours. The stock soared to a high of Rs 344 yesterday and closed with a 13% gain at Rs 328. In the process, the stock has gained 30% in the past week, even as the Sensex slipped for the first three days.
In Wall Street, also, the ADR soared 20.5% to $14.9, yesterday.
Higher other income, positive currency movement and enhanced focus on operating discipline aided Patni Computer Systems to post a net income (India GAAP) of Rs 135.9 crore for the quarter ended June 30, an increase of 14% from Rs 119 crore clocked in the corresponding quarter last year. Revenue, at Rs 779.6 crore, dropped marginally by 1.6 per cent from Rs 767.3 crore last year.
|
|
|
|
|
|
|
|
|
|
 Read Business news in |  |
|
|
|
|
|
|
Advertisements |
|
|
|
|
|
|
|
|
|
|
Content Guide
