Shares in Infosys continued to head lower, dropping another 1.26 per cent in trade taking the losses in the last two trading sessions to almost 7 per cent.
Infosys guided for a good set of revenue growth of 10-12 per cent for FY 2015-16, but markets were unhappy owing to the poor revenues that were reported for the quarter ending March 31, 2015.
Apart from this markets were not too convinced that the company would manage to achieve its revenue. All the three tech companies reported a very poor set of results. HCL Tech, Wipro, TCS and Infosys all disappointed.
Poor results from HCL Tech and TCS was already factored in, as these companies had already sounded a warning.