Infosys New Update: With the decline, the company’s market valuation decreased by Rs 73,060.65 crore. Earlier, the company’s fourth quarter financial results were below expectations.
Share Market Tips: Investors of IT sector giant Infosys suffered a major setback on Monday. Infosys shares fell nearly 15 per cent in early trade on Monday. After March 2020, for the first time such a huge decline was seen in the company’s stock. However, later recovery was seen in the stock. With this decline, the market valuation of the company decreased by Rs 73,060.65 crore. Earlier, the company’s fourth quarter financial results were below expectations.
Share fell to Rs 1219
The company has projected a weak growth of 4-7 percent in revenue for the current financial year 2023-24. The company’s stock on BSE came down to Rs 1219 as against closing at Rs 1388.60 on Monday. Earlier, the company’s stock had opened at Rs 1249.75. The scrip closed at a 52-week low of Rs 1,185.30, down 14.67 per cent, on the NSE. The company’s market valuation declined by Rs 73,060.65 crore to Rs 5,08,219.35 crore.
Net profit reached Rs 6,128 crore
According to the financial results announced by Infosys, its net profit increased by 7.8 percent to Rs 6,128 crore in the fourth quarter of the financial year 2022-23. The company had earned a net profit of Rs 5,686 crore in the January-March quarter of the financial year 2021-22. Infosys’ stock reached a 52-week low of Rs 1,219 on BSE on Monday. The 52-week high level of the stock is Rs 1,672.45.
