BUSINESS

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BUSINESS

Infosys shares tumble 10% in early trade

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Infosys shares plummet

Indian stock market witnessed a bloodbath in early trading on Friday, led by IT stocks. Infosys shares fell nearly 10%.

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Infosys revised FY24 guidance

Infosys's Q1 FY24 results disappointed the market. The company revised its FY24 revenue guidance from 4-7% to 1-3%.

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Shares plunge after results

Infosys shares fell 8.41% to $16.22 after the company's Q1 FY24 results. The Indian market took a cue from the US.

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Analyst prediction

Analysts consider Infosys's current guidance aggressive, predicting no growth in the current financial year due to macroeconomic challenges.

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IT stocks plunge

Infosys's revised guidance hit IT stocks, with TCS, Wipro, HCL Tech, and Tech Mahindra in red. Nifty IT fell by over 4%.