Infosys Shares Tanks 10% After FY24 Revenue Guidance Revised; Buy, Sell, or Hold? - News18
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Last Updated: July 21, 2023, 10:42 IST Infosys declared its quarter 1 (FY 2023-24) results on July 20, 2023 Infosys shares have been under selling pressure since stock market's opening; What should investors do now? Infosys Share Price Today: Infosys shares have been under selling pressure since the stock market’s opening. This comes after, India’s second-largest IT services firm, while announcing its Q1FY24 results, sharply lowered its FY24 revenue guidance to 1.0 per cent - 3.5 per cent in constant currency (CC) terms, compared to 4 per cent -7 per cent guided in the previous quarter. Infosys share price today opened lower and went on to hit intraday low of Rs 1,305 apiece levels, logging around 10 per cent dip within few minutes of stock market’s opening bell today. What Should Investors Do? Analysts tracking the stock have a mixed stance on the stock but maintain that the steep cut in the FY24 revenue outlook was surprising and is a concern. For instance, Motilal O...