Infosys slips 6% post Q3 results, drags down Nifty IT index
Infosys shares tumbled close to 6% on Friday as the company's muted outlook after its third-quarter results prompted investors to cut their bets.
«While Infosys reported decent numbers, the management expects a muted fourth quarter which led to the slide in the stock,» said Dharmesh Kant, head of research, Cholamandalam Securities.
«Given that Infosys was trading at lofty valuations, the profit booking was expected.»
The stock ended at ₹1,817.50, down 5.8% over the previous trading sessions. The Nifty Information Technology (IT) Index fell 2.7% dragged by the decline in Infosys. Out of the 10 stocks on the Nifty IT, eight declined and two advanced. Wipro shed 2.2% on Friday and TCS shares were down 2%. Tech Mahindra and Persistent Systems fell 1.8% and 1.7%, respectively. LTI Mindtree and Coforge moved over 1% lower.
Stock Trading
Maximise Returns by Investing in the Right Companies
By — The Economic Times, Get Certified By India's Top Business News Brand
Stock Trading
Market 104: Options Trading: Kickstart Your F&O Adventure
By — Saketh R, Founder- QuickAlpha, Full Time Options Trader
Stock Trading
Technical Analysis for Everyone — Technical Analysis Course
By — Abhijit Paul, Technical Research Head, Fund Manager- ICICI Securities
Stock Trading
Stock Markets Made Easy
By — elearnmarkets, Financial Education by StockEdge
Stock Trading
Renko Chart Patterns Made Easy
By — Kaushik Akiwatkar, Derivative Trader and Investor
Stock Trading
Market 101: An Insight into Trendlines and Momentum
By — Rohit Srivastava, Founder-
