Infosys fell 1.83% to Rs 1,101.95 at 10:16 IST on BSE, extending yesterday's 3.88% fall triggered by the company lowering its full year revenue growth guidance in dollar terms for the year ending 31 March 2016.
The company announced its Q2 September 2015 results during market hours yesterday, 12 October 2015. Shares of Infosys fell 3.88% at Rs 1,122.50 yesterday, 12 October 2015. The stock has fallen 5.64% in two sessions from Rs 1,167.85 on Friday, 9 October 2015.
Meanwhile, the BSE Sensex was down 79.96 points, or 0.30%, to 26,824.15.
On BSE, so far 1.58 lakh shares were traded in the counter, compared with an average volume of 2.12 lakh shares in the past one quarter.
The stock hit a high of Rs 1,114.80 and a low of Rs 1,095.15 so far during the day. The stock hit a record high of Rs 1,219 yesterday, 12 October 2015. The stock hit a 52-week low of Rs 929.50 on 21 October 2014.
The stock had underperformed the market over the past one month till 12 October 2015, rising 2.92% compared with 5.05% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 19.80% as against Sensex's 2.74% decline.
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The large-cap company has an equity capital of Rs 1148.47 crore. Face value per share is Rs 5.
Infosys lowered its full year revenue growth guidance in dollar terms for the year ending 31 March 2016 (FY 2016) at the time of announcement of Q2 September 2015 results. Infosys now expects its revenue to grow 6.4%-8.4% in dollar terms for FY 2016. At the time of announcing Q1 June 2015 results, Infosys had forecast revenue growth of 7.2%-9.2% in dollar terms for FY 2016.
The revenue growth guidance for FY 2016 has been kept unchanged at 10%-12% in constant currency terms.
Thanks to weakness of the rupee against the dollar, Infosys has raised full year revenue growth guidance in rupee terms. Infosys now expects its revenue to grow 13.1%-15.1% in rupee terms in FY 2016. At the time of announcing Q1 June 2015 results, Infosys had forecast 11.5%-13.5% growth in the company's revenue in rupee terms for FY 2016. The revised guidance is based on rupee dollar exchange rate of 65.59.
Infosys' consolidated net profit rose 12.1% to Rs 3398 crore on 8.9% growth in revenue to Rs 15635 crore in Q2 September 2015 over Q1 June 2015. The results are as per International Financial Reporting Standards (IFRS). The result was announced during market hours on 12 October 2015.
Meanwhile, Rajiv Bansal has stepped down as Chief Financial Officer (CFO) of Infosys effective 12 October 2015. Ranganath M. D. has been appointed as the new CFO.
Infosys is a global leader in consulting, technology and outsourcing solutions.
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