Latest News
-
107% Returns: Tata's NBFC Doubles Investors Money, Rs 53,440 Profits On Rs 50K; Key Parameters To Buy/Sell -
Rs 7/Share Dividend: May 3 Fixed As Record Date; Buy The Large Cap Stock To Be Eligible? -
EMS Stocks Buzz: 4 ELECTRONIC Stocks From Rs 400-2500 To Buy For 17-35% Potential Upside; Who Are They? -
10 Bonus Shares, 1:2 & 1:5 Splits; Smallcap Steel Stock Below Rs 15, Falls 10% In 5 Days; Plans FPO Ahead -
SBI, BoB, Canara: 5 PSU Bank Stocks To Buy, Motilal Top Picks; 1 To Split In 5 Shares For First Time Soon -
Highest Dividend In 2023 In History: Multibagger Refineries PSU To Mull Dividend On April 24 -
7:1 Bonus, 1:10 Split: At Rs 3.5, NBFC Penny Stock Hits Back-To-Back Lower Circuits; Big Announcement Soon -
Meta's Board Requests Public Views on AI Images of Celebrities -
Microsoft Pledges $1.5 Billion in UAE's AI Firm G42 to Boost Global Digital Infrastructure -
Yellen Cautions on Economic Fallout from Iran-Israel Tensions, Eyes More Sanctions
Shock and awe from Infy; ends 21 per cent lower
A poor set of guidance, disappointing dollar revenues and falling margins saw huge selling pressure in the stock. The stock ended the day lower at Rs 2296 down by 21.26% on NSE.
Analysts and brokerages have downgraded the stock to sell and in all probability a further fall is likely.
"Global economic uncertainties remain challenging for the IT industry," said S. D. Shibulal, CEO and Managing Director. "We are progressing well on our strategic direction of building a high-quality company which is relevant to our clients. We are making all the investments necessary to differentiate ourselves in the market place while positioning ourselves as a partner of choice for our clients."
"The global currency market continues to be volatile reflecting the uncertain economic environment. Our hedging strategy helps us to minimize the volatility impact," said Rajiv Bansal, Chief Financial Officer. "We have a healthy balance sheet with our cash and cash equivalents at US$ 4.4 billion."
GoodReturns.in
