Infosys Q2 Results: Falls On FY17 Guidance Cut

9:55 a.m.: Infosys shares slump 5.3 per cent to hit intraday low of Rs 996 after the IT company cut its revenue growth guidance to 8-9 per cent for FY17. 

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9:49 a.m.: Infosys reports net profit of Rs 3,606 crore in September quarter, beats estimates; shares turn highly volatile after rising 2.88 per cent. The stock fell over a per cent. 

9:40 a.m.: Stock markets were trading near day's highest level. The Sensex was up 0.25 per cent or 70 points at 27,713 and Nifty was at 8,588, up 15 points. TCS which fell as much as 1.6 per cent recovered from low levels and was up nearly 2 per cent.  

9:30 a.m.: Sensex and Nifty edged higher in opening deals on Friday tracking gains in select oil & gas, auto and capital goods stocks. However, the gains were capped owing to losses in heavyweight IT stocks.  

From the Nifty basket of shares, 32 were advancing while 19 were declining.  

GAIL India was the top Nifty gainer, up 1.7 per cent at Rs 420. Tech Mahindra, Reliance Industries, Adani Ports, Axis Bank, Tata Motors, BHEL and Cipla were also among the gainers. On the other hand, TCS fell as much as 1.62 per cent to Rs 2,291 after the closely its dollar revenue inched 0.3 per cent higher in the September quarter to $4,374 million, which was below the Street's expectation of $4,441 million. Infosys which is due to report its September quarter numbers was also among the laggards, down 0.6 per cent at Rs 1,046. Lupin, Bharti Airtel, Hindustan Unilever, Zee Entertainment, HDFC Bank, Yes Bank and Sun Pharma were also among the laggards.