BUSINESS

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BUSINESS

Infosys shares tank nearly 10%

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Infosys shares dip

Infosys shares dropped by nearly 15% in morning trade due to underwhelming quarterly results, marking the most significant since the COVID crash.

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Disappointing Q4 Results

Infosys missed Q4 estimates and gives a conservative outlook for FY24, with analysts calling the results "disappointing."

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Conservative outlook

Infosys's lower-than-expected revenue growth outlook of 4-7% for the financial year ending in March 2024 triggered a sell-off.

4

Demand slows

Investors are concerned about Infosys' moderation in demand as the company's CEO cites lower volumes due to unplanned project ramp-downs and delays in decision-making.

5

Today's trading

Infosys ended today's trading session at Rs. 1,259 per share, down by 9.37%. Earlier today, the company hit Rs. 1,185.30, its 52-week low.

6

Economic turmoil impacts Infosys

Infosys faces macroeconomic concerns and decreased spending by companies due to global economic uncertainties, in addition to banking turmoil.