Monday, 25 Aug 2008 | Source: The Associated Press
Infosys Technologies Ltd., a leading Indian technology services provider, Monday said it has agreed to buy Axon Group PLC, a British consulting firm, for about $753 million.
India's Infosys Technologies beat expectations with a 21% rise in quarterly profit thanks to a weaker rupee, and raised its full year guidance on hopes for a revival in outsourcing demand.
All three major indexes finished slightly higher Tuesday, led by energy and bank stocks, as investors processed some not-horrible earnings results. Airline stocks skidded amid concerns about fuel prices and viability.
India's Infosys Technologies missed market forecasts with a 9.6 percent rise in quarterly profit, and sounded a cautious note for its short-term outlook on global worries that could hit outsourcing demand.
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