Apr 13, 2007

Infy investors to make moolah with 130% dividend

IT bellwether Infosys Technologies Ltd Friday declared a final dividend of Rs 6.50 per share, 130 percent on par value of Rs 5 per share for fiscal 2006-07, amounting to Rs 3.71 billion ($86 million).
In a notification to the stock exchanges here, the company said with an interim dividend of Rs 5 per share (100 percent of Rs 5 per share), amounting to Rs 2.78 billion, the total dividend for the entire fiscal (FY 2007) would be Rs.11.50 per share. This would be 230 per cent on par value of Rs 5 per share, with a payout of Rs 6.49 billion.

The decision to reward its shareholders handsomely was taken by the company's board of directors, which met here to approve the financial results for the fiscal under review.

For the previous fiscal (FY 2006), the blue-chip firm rewarded its investors with a silver jubilee dividend of 600 percent and a 1:1 bonus issue.

Result Review :

Infosys Q4: Net soars 70%, income up 44%

Infosys today reported 70% surge in Q4FY07 consolidated net profit at Rs 1,144 crore when compared with Rs 673 crore in Q4FY06.

According to a release issued by Infosys to the BSE, the total income grew 44.3% to Rs 3,891 crore from Rs 2,696 crore.

For the full-year ended March 31, 2007, the company's net was up 57% at Rs 3,856 crore from Rs 2,458 crore in FY06. Total income increased to Rs 14,265 crore from Rs 9,660 crore.

Further, the board of the directors of the company have proposed a final dividend of Rs 6.50 per share, i.e 130% on a equity share with a face value of Rs 5 each.

BUY INFOSYS ( @ CMP ) : DELIVERY

SHORT TERM ( 2 - 3 Months )

T1 - 2170
T2 - 2210
T3 - 2260 +
SL - 2070

MEDIUM TERM ( 6 - 8 Months )

T1 - 2210
T2 - 2270
T3 - 2320 +
SL - 2087.50

LONG TERM ( 12 - 16 Months )

TARGET --- 2700 +

LONG TERM VIEW FOR THE STOCK REMAINS BULLISH & THE GROWTH OF THE SECTOR WILL TAKE THIS STOCK TO A NEW HIGH

NOTE : NO STOPLOSS IS REQUIRED IF HOLDING PERIOD IS FOR 8/12 MONTHS

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