Selling pressure in Shares of Infosys Technologies saw the stock hit another 52-week low on the bourses. Infosys Technologies was trading at Rs 2147 at 9.55 am IST, breaching Thursday's low of Rs 2150.
The stock has now lost significant ground since it declared poor revenue guidance for FY 2013. Infosys Technologies Q1 results for 2012-2013 disappointed with profit after tax coming in at just Rs 2289 crores, against analysts expectations of around Rs 2,450 crores. The company reported a PAT of Rs 1,722 crore in the corresponding period of last year.
However, the prime reason for the fall in the stock price is the muted revenue guidance, lower client spending and dismal business environment in its key markets. Investors might now want to look at reshuffling their portfolio within IT and move into stocks like HCL Technologies and TCS which are reporting a better financial performance.
GoodReturns.in
Notifications
Settings
Clear Notifications
No New Notifications
Notifications
Use the toggle to switch on notifications
Block for 8 hours
Block for 12 hours
Block for 24 hours
Don't block
To start receiving timely alerts, as shown below click on the Green “lock” icon next to the address bar
Click it and Unblock the Notifications
Close X
Close X
To Start receiving timely alerts please follow the below steps:
Click on the Menu icon of the browser, it opens up a list of options.
Click on the “Options ”, it opens up the settings page,
Here click on the “Privacy & Security” options listed on the left hand side of the page.
Scroll down the page to the “Permission” section .
Here click on the “Settings” tab of the Notification option.
A pop up will open with all listed sites, select the option “ALLOW“, for the respective site under the status head to allow the notification.
Once the changes is done, click on the “Save Changes” option to save the changes.
Click it and Unblock the Notifications
Sign in with Google