Investors of Infosys have suffered a major setback. Infosys shares fell sharply on Monday. Infosys shares are currently trading at a level of Rs 1628.10 with a decline of 6.89 percent on the Bombay Stock Exchange. Selling pressure is being seen in the shares of the company. This fall in the shares of IT company Infosys comes after the fourth quarter results of the last financial year were below expectations. This is the sharpest fall in Infosys shares in more than two years.
Over Rs 40,000 crore setback in initial trade
The market capitalization of Infosys on the BSE has come down to Rs 6,92,281 crore after a sharp fall in the shares. Investors have lost over Rs 40,000 crore in the initial trade itself. The Nifty IT index has lost the most. The index is down about 4 per cent. Infosys reported a 12 per cent increase in net profit at Rs 5,686 crore in the January-March quarter of the last fiscal, as against Rs 5,076 crore in the year-ago period. At the same time, the company’s revenue grew by about 23 per cent to Rs 32,276 crore, as against Rs 26,311 crore in the same period a year ago.
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Shares have given a negative return of 14% so far this year
Analysts at ICICI Securities said the company’s margin performance remained weak in the January-March quarter due to the impact of lower utilization and client contractual provisions. Infosys shares have fallen more than 10 per cent in the last five days. At the same time, so far this year, the company’s shares have given a negative return of 14.33 percent. The shares of the company have given returns of about 20 per cent in the last one year. At the same time, from the beginning till now, the return of about 14,000 per cent has been given to the investors in the shares of Infosys.