: Infosys shares tumble 10% in India, after downbeat results last week


Shares of Infosys Ltd. 500209, -9.61% slumped nearly 11% in India on Monday, following disappointing results last week. U.S.-listed shares of the company INFY, -1.43% fell towards a 2 1/2 year low on Friday as analysts reacted to the India-based digital services and consulting group’s results for the fourth quarter and year ended March 31, 2023. Specifically, Infosys projected revenue growth of 4% to 7% for the fiscal year ending March 2024, well short of 10.7% growth expected from analysts surveyed by Factset Research. Ahead of those results, rival Tata Consultancy Services Ltd.  532540, -1.35% had reported earnings that slightly missed estimates. Tata shares were down over 2% on Monday.

This article was originally published by Marketwatch.com. Read the original article here.

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