Infosys slumps 9 per cent on revenue outlook worries

Tags: Companies
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.

EDITORIAL OF THE DAY

  • Finalising the formula for fixing the fair market value of shares calls for a detailed debate

    Whenever there is a change of regime at the Centre, the new government has its tasks cut out for execution.

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Roopen Roy

High CEO pay and the gaps it leaves

Unlike the UK, Norway took a remarkable decision with its ...

Zehra Naqvi

Watch your words, for they can kill

You must’ve heard the ph­rase ‘if looks could kill’. Ever ...

Dharmendra Khandal

Biodiversity day has come and gone. Yet again

Every year on May 22, world celebrates international biodiversity day. ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture