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India Infoline News Service/17:24,Apr 15, 2014
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Infosys extends Friday's steep slide

Capital Market/ 13:06 , Apr 15, 2013

Infosys lost 2.01% to Rs 2,249.20 at 13:08 IST on BSE, with the stock extending Friday's 21.33% slide triggered by the company issuing tepid revenue guidance at the time of announcing Q4 March 2013 and the year ended 31 March 2013 results.

Meanwhile, the S&P BSE Sensex was up 124.24 points or 0.68% at 18,366.80.

On BSE, 4.23 lakh shares were traded in the counter as against average daily volume of 1.13 lakh shares in the past one quarter.

The stock hit a high of Rs 2,304.40 and a low of Rs 2,206 so far during the day. The stock had hit a 52-week low of Rs 2,101.65 on 26 July 2012. The stock had hit a 52-week high of Rs 3,010 on 7 March 2013.

The stock had underperformed the market over the past one month till 12 April 2013, sliding 21.32% compared with the Sensex's 6.76% fall. The scrip had also underperformed the market in past one quarter, declining 15.38% as against Sensex's 7.23% fall.

The large-cap IT company has equity capital of Rs 287.12 crore. Face value per share is Rs 5.

Shares of Infosys have tumbled 22.91% in two trading sessions from a recent high of Rs 2,917.85 on 11 April 2013, after the company before trading hours on Friday, 12 April 2013, issued tepid revenue guidance at the time of announcement of its Q4 March 2013 and the year ended 31 March 2013 results. The stock had tumbled 21.33% to settle at Rs 2,295.45 on Friday, 12 April 2013.

Infosys' consolidated net profit as per International Financial Reporting Standards (IFRS) rose 1.1% to Rs 2394 crore on 0.3% growth in revenue to Rs 10454 crore in Q4 March 2013 over Q3 December 2012. Net profit rose 13.3% to Rs 9421 crore on 19.6% growth in revenue to Rs 40352 crore in the year ended March 2013 (FY 2013) over the year ended 31 March 2012 (FY 2012).

The company has forecast a tepid 6% to 10% growth in revenue in both rupee terms and dollar terms for the year ending 31 March 2014 (FY 2014) as the company says that global economic uncertainties remain challenging for the IT industry. The revenue growth outlook is lower than industry body Nasscom's projection of 12% to 14% growth in IT exports in the current fiscal year. Infosys has not given full year earnings guidance this time. Infosys had earlier stopped offering quarterly guidance in July 2012.

Infosys partners with global enterprises to drive their innovation-led growth. As a leading provider of next-generation consulting, technology and outsourcing solutions, Infosys helps clients in more than 30 countries realize their goals.


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