Guidance cut to keep Infosys stock under pressure

Progress on CEO's appointment a key monitorable

Infosys has disappointed the Street as the IT major reported a muted performance in the September quarter (Q2). 

The company’s revenues at Rs 17,567 crore, up 2.2 per cent in constant currency terms, was lower than analysts’ estimates. The growth was led by 1.6 per cent of volume gains, while the rest came from higher realisations or pricing.

Among businesses, growth was driven by its large verticals of BFSI (banking, financial services and insurance), manufacturing and hi-tech, retail and life sciences. The company indicated that BFSI, which accounts for a third of its revenues, might see a soft December quarter