Infosys shares under pressure after Indias 2nd largest IT firm trims FY24 revenue guidance; heres what brokerages say
Infosys Q2 results 2023: The No. 2 software services in the country reported a consolidated net profit of Rs 6,212 crore for the second quarter of the current financial year, translating into an increase of 4.5 per cent compared with the previous three months.
Infosys share price target 2023, Infosys share price NSE, Infosys Q2 results 2023: Infosys (INFY) shares declined on Friday after the country's second-largest IT company staged an overall better-than-estimated quarterly performance but cut the upper-end of its annual revenue forecast despite a strong order win. The No. 2 software services in the country reported a consolidated net profit of Rs 6,212 crore for the second quarter of the current financial year, translating into an increase of 4.5 per cent compared with the previous three months. Infosys reports consolidated revenue of Rs 38,994 crore for the second quarter of the current financial year, in line with analysts’ estimates.
The counter declined as much as Rs 65.5 or 4.5 per cent to touch the day's low of Rs 1,400 from the previous close of Rs 1,465.5 on NSE in opening deals. The counter ended at Rs 1,432.85, down Rs 32.65 or 2.23 per cent on NSE.
Here's how the counter moved on Friday, October 13:
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