Infosys extends fall on weak FY13 guidance

Infosys is trading lower by 2% at Rs 2,360, extending its record single day fall of around 13% on Friday, after the IT bellwether reported disappointing fourth quarter earnings and offered lower dollar revenue and earning per share (EPS) guidance for FY13.

The IT major has guided for 8-10% growth in dollar revenue terms which is much lower than expectations of 12-15%. The company expects FY13 dollar revenues at $7553-7692 million. The FY13 EPS guidance is expected at Rs 158.76-161.4 (at assumed currency rate of INR50.88/USD).

A combined around two million shares have changing hands on the counter so far on both the exchanges.