You are right; it is largely a reaction to the results. The growth has been on par and operating margins did come down marginally. But the real benefit for Infosys came because it raised its guidance for next year growth by 80 basis points. For a company that was struggling to grow in the last few quarters, the markets are happy about three things. Firstly, growth is back at a higher rate and that is good news for Infosys and its shareholders. Secondly, the management team appears to have stabilized as the churn of the last 3-4 years seems to have been put behind. That gives more comfort to investors. Thirdly, markets are now expecting the valuation gap between Infosys and TCS to narrow as Infy is quoting at less than 20 times forward earnings. All these factors appear to have contributed to the sharply rally on Infosys stock, after the results release.