Infosys falls over 2.6% as Citi downgrades scrip ahead of results

The Infosys scrip on Bombay Stock Exchange fell more than 2.6% as Citigroup downgraded it to 'neutral' from 'buy'.

It says shares trade at around 17x 1-year forward earnings after outperforming the market and adds "positives are adequately discounted".

The downgrade came at a time when the company is going to declare its July-September earnings on Friday.

At 1115 hours on Wednesday the scrip was trading 2.6% lower at Rs 3,728