Infosys slips 4%, hits 6-week low on surprise revenue guidance cut in Q2

Infosys's revenue guidance is a negative surprise and likely factor in impact from these ramp downs as well as backend ended and delayed ramp up in mega deal, according to analysts.

Shares of Infosys slipped 4 per cent to Rs 1,402.10 on the BSE in Friday’s intra-day trade after the IT major lowered its FY24 revenue growth guidance to 1.0-2.5 per cent in constant currency (CC) terms from 1-3.5 per cent it had guided earlier.

The stock of India’s second-largest software exporter by revenue was quoting at its lowest level since August 22, 2023. It was quoting lower for the third straight day, down 6 per cent during the period. At 09:25 AM; Infosys was trading 2.5 per cent lower at Rs 1,428.60, as compared to 0.5 per cent decline