Infosys shares gain on short covering in May futures

Shares in Infosys Ltd gain 1.2 percent on short covering in its May futures on Monday due to value buying in the cash market after April8217;s underperformance,dealers say.

Infosys shares fell 22.6 percent in April compared with a 3.6 percent rise in India8217;s benchmark index BSE Sensex in the same period.

Infosys added 0.29 million shares or about 10.5 percent in outstanding positions for May futures on Friday with a price increase of 2.3 percent,which signifies liquidation of short positions.