News Portal: Infosys stocks crash 10% on disappointing guidance

Friday, April 13, 2012, 09:31:52 (IST)

NEWS FLASH
Infosys, India's second biggest IT services exporter, has guided for much lower than expected growth for the current fiscal (2012-13). Infosys has guided for 8-10% growth in dollar revenue terms against expectations of 12-15%. The company's guidance is taken as a benchmark for the IT industry. Shares of the company crashed in early trade. At 10.15 am, Infosys stocks traded 10% lower at Rs 2,470 on the BSE, while the Sensex was down 75 points or 0.44% to 17,257.