Infosys Q2 profit tops estimates, yet shares down on forex concerns
Infosys Technologies Ltd., one of India’s leading IT Services Company, reported 18 percent growth in its second-quarter profit, in dollar terms, and raised its outlook for the full-year, on strong demand for its low cost outsourcing services. Reuters

Goldman Sachs raised Infosys Technologies to buy from neutral on Friday, saying it believes a drop in the share prices offers an attractive entry point.

... we believe that the recent price correction offers a favorable risk-reward and an opportunity to enter the stock with a secular growth outlook, the U.S. investment bank said in a note.

Infosys stock has shed 6.8 percent so far in 2011.

On Thursday, Infosys closed 4.8 percent lower, its biggest one-day slide in 20 months, after it missed estimates for profit and future sales growth and warned of sluggish global economic growth.

The main stock index shed 1.8 percent on Thursday.

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