Infosys shares fell more than 2% on Friday as investors digested the company’s first-quarter results and a notably cautious outlook for the fiscal year ahead.
The Bangalore-based technology services firm moderated its full-year constant currency revenue growth guidance to a range of 1.5% to 3%, pulling back the upper end of its previous forecast.
The sell-off in Mumbai followed a sharp decline in US trading on Thursday, where Infosys American Depositary Receipts (ADRs) plunged more than 5% on the New York Stock Exchange, dipping as low as $10.
The move signals persistent headwinds in the global IT spending environment, prompting immediate reassessment by equity analysts.
Brokerages responded swiftly to the revised guidance, trimming target prices across the board.
The sell-off in Mumbai followed a sharp decline in US trading on Thursday, where Infosys American Depositary Receipts (ADRs) plunged more than 5% on the New York Stock Exchange, dipping as low as $10.30.
The coordinated drop across both domestic and US-listed instruments underscores the market’s sensitivity to any further softening in growth expectations from India’s largest IT exporters.