• Source:JND
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Infosys Share Price:  Infosys Share Price: Infosys Ltd.'s shares fell 4.50 percent on Friday morning as investors reacted negatively to the company's second-quarter earnings. The stock fell to Rs 1,880.80 on the BSE, while it fell 4.44 percent to Rs 1,880.65 on the NSE, the worst performer on both the BSE Sensex and the NSE Nifty. Infosys' market capitalization shrank by Rs 31,327.94 crore to Rs 7,86,437.37 crore in early morning trading.

The sell-off in the parent stock weighed heavily on the broader markets, with the BSE benchmark index losing 570.45 points to 80,436.16 and the NSE Nifty losing 178.3 points to 24,571.55.

Infosys, India's second-largest IT services exporter, reported a nearly 5 percent rise in second-quarter net profit on Thursday and raised its revenue outlook for the year, citing a recovery in demand, particularly from its core financial sector clients. The company posted an adjusted net profit of Rs 6,506 crore in the July-September quarter, up 4.7 percent year-on-year and up 2.2 percent from the previous quarter.

For the second consecutive quarter, Infosys raised its revenue guidance for the full financial year, now projecting constant currency revenue growth of between 3.75 percent and 4.5 percent from April 2024 to March 2025. This is an increase from the previous forecast of 3 to 4 percent growth.

CEO and Managing Director Salil Parekh described the revision as reflecting strong growth momentum, driven by the ramp-up of mega deals. Earlier, Infosys raised its guidance in the June quarter from its initial range of 1 percent to 3 percent.

Also Read: Wipro Share Price: IT Stock Surges Over 5% After Positive Q2 Result

(With PTI's Inputs)