Infosys' stock moves against results

Despite the fact that the IT major was able to post better than expected results to the market but the stock of the company failed to please the investors.

The IT bellwether beat the market expectations by filing a 13 per cent rise in net profit at Rs1,737 crore for the quarter ended September 2010 and has set the right tone for the company who will be announcing their results in the times to come.

The Bangalore major company also said that it will be giving a special dividend of Rs30 per share to the investors which will be a mark of its entry into the third decade of operations and this dividend will be separate from Rs 10 interim dividend that the company will be giving to the investors.

It is to be mentioned here that the company also announced an interim dividend of Rs. 10 last year as well. However, the stock of the company didn't fared well on the bourses as it fell by close to 3.39 per cent or Rs108 to Rs3,076.15 on its disappointing guidance.

Infosys didn't raise its outlook for the rupee terms and said that the company will be hiking its guidance in the US dollar terms. V. Balakrishnan, chief financial officer (CFO), Infosys Technologies said that as there is still economic uncertainty over the financial conditions, the currency volatility is still a very big concern for the industry.

ICC’s ‘undercover agents’ to pose as bookies to snare errant players

International Cricket Council is reportedly considering a radical plan of creating a team of undercover agents, who will pose as illegal bookmakers.


These agents will approach cricketers to see if they report the encounters.
According to the Sydney Morning Herald, players who do not report the approaches would be penalised under the anti-corruption code, with sanctions ranging from warnings to fines and suspensions.
The plan is only in its embryonic stage and is one of many new initiatives being considered by the ICC in light of the Pakistan spot-fixing allegations.


The idea was put to ICC chief executive Haroon Lorgat and is now being considered.
''''We are thinking of setting up our own approaches to players, to see if they report it, we will think out of the box,'''' Lorgat told the Herald.


He added: ''''It is only a tentative plan at this stage, we are working on a number of measures to combat corruption. We are not sitting on our hands … we are being as proactive as we can in ensuring the integrity of the game is maintained.''''