Infosys: If an overnight 7 per cent fall in Infosys American depositary receipt (ADR) is any hint, Infosys shares are likely to see a steep fall as the market opens on Friday. This could be a similar fall that the stock witnessed post Q1 results.
“The challenges which the IT companies had still continue. They have worked very hard to ensure the cost escalation does not happen. They have also worked towards gaining large orders.”
The company sharply cut its FY24 revenue growth estimate on the back of an uncertain global environment. Infosys now sees revenue growing just 1-3.5% in constant currency terms, against 4-7% earlier.