Infosys Shares Fall After Company Says It Will Make Less Money
Introduction
Infosys is a big company in India. It helps other companies with computers. On Friday, people who own parts of Infosys lost money. The company said it will not make as much money next year. People thought it would make more money.
Main Body
The price of Infosys shares went down by 4.2%. It was the lowest price in three years. Later, the price went up a little. It was 1,188.50 rupees. That price was last seen in April 2023. Infosys was the second worst company on the Nifty IT list. Only LTM was worse. LTM shares fell by 4.87%. In the US, Infosys shares also fell by 6%. Infosys said it will make 1.5% to 3.5% more money next year. Experts thought it would make 2% to 4% more money. The company said car companies in Europe are not buying as much help. Other big IT companies in India also said they will make less money. HCLTech said other companies are fighting for the same work. Tata Consultancy Services said it made less money last year. That was the first time in 20 years. Some experts at BofA said the companies will need more time to make more money. Other experts at Morningstar said Infosys is doing a good job. They said Infosys will make a little more money every year for five years. After the news, seven banks said Infosys shares are worth less money. One bank, Nomura, said the shares are worth a little more money.
Conclusion
Infosys said it will make less money than people thought. Because of this, the share price went down. Many banks now think the shares are worth less. This shows that people are worried about the IT business in India. They are not sure when companies will start buying more help again.