Infosys nears 52-week low; stock slips 12% in one month on growth concerns

Following recent developments around bankruptcy of Silvergate, SVB and Signature Bank in the US and UBS-CS merger will likely lead to further curtailing of discretionary tech spends in the near term.

Shares of Infosys were down 1 per cent to Rs 1,372, hitting a six-month low, on the BSE in Thursday's intra-day trade as growth concerns weighed on investos' sentiment. The stock of the information technology (IT) company was quoting lower for the fourth straight day, down 3.5 per cent during the period. It was trading close to its 52-week low level of Rs 1,355.50, touched on September 26, 2022.

In the past one month, Infosys has underperformed the market by falling 12 per cent as analysts believe there can be a pause or slowdown in the pace of digital/cloud