Infosys slumps 9 per cent on revenue outlook worries

Shares in Infosys fell as much as 9 percent on concerns about the revenue outlook after Barclays cited the software service exporter's chief executive SD Shibulal as saying the company was facing challenges in some customer segments.

Barclays, in an email to clients, said Infosys management, highlighted improving customer optimism, but added Shibulal had also "highlighted the challenges faced by the company in retail and Hi-Tech vertical."

"We believe that if the challenges outplay positives, the company is likely to gravitate towards lower end of FY14 guidance, implying muted Q4FY14," Barclays said in its email.

Infosys, India's second largest software services exporter, in January raised revenue growth guidance for the 2013/14 financial year to between 11.5 and 12 percent from a previously forecast 9-10 percent, citing higher demand for its services.

Infosys shares were down 7.4 percent at 9:27 a.m.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • If the first 17 editions of Saarc were tragedies, Kathmandu was a sham

    Rarely has a regional grouping such as the South Asian Association of Regional Cooperation (Saarc) promised so much and delivered so little.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Varun Dutt

By the power of wind, let there be light

In India, the development of wind power began in the ...

Zehra Naqvi

Being unrealistic can be good for you

Depression is a term that most people use very casually ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture