Infosys shares decline 3 pc

On the NSE, Infosys shares declined 2.82 per cent to close at Rs 1,452.30 apiece while it dropped 1.95 per cent to end the day at Rs 1,464.55 apiece on the BSE. In terms of volumes, nearly 1.11 crore shares were traded on the NSE and 1.92 lakh shares on the BSE.

New Delhi:Shares of Infosys on Thursday declined up to three per cent on the bourses ahead of its quarterly financial results. After market hours, the IT major reported a 3.1 per cent year-on-year rise in net profit to Rs 6,215 crore for the September quarter. Its revenue increased 6.7 per cent to Rs 38,994 crore during the same period.

On the NSE, Infosys shares declined 2.82 per cent to close at Rs 1,452.30 apiece while it dropped 1.95 per cent to end the day at Rs 1,464.55 apiece on the BSE. In terms of volumes, nearly 1.11 crore shares were traded on the NSE and 1.92 lakh shares on the BSE. The 30-share BSE Sensex declined 64.66 points to close at 66,408.39 points while NSE Nifty fell 17.35 points to settle 19,794 points.

The September quarter results of IT major TCS that was announced on Wednesday failed to enthuse investors and had triggered a sell-off in IT stocks on Thursday. While announcing the latest quarter results on Thursday, Infosys CEO and MD Salil Parekh said, "we had our highest large deals value at USD 7.7 billion in Q2 spread across all verticals and geographies".

"This, in an uncertain macro-environment, is a testament to our ability to pivot and stay relevant to the evolving client needs, by delivering the benefits of transformation as well as productivity and cost savings at scale," Parekh added.