Infosys hits over 10-month low; stock down 14% in a month

Shares of Infosys hit over 10-month low of Rs 1,511.55, down 3 per cent on the BSE in Wednesday’s intra-day trade. In the past one month, the stock of information technology (IT) major has declined 14 per cent after operating performance missed estimates in March quarter (Q4FY22). In comparison, the S&P BSE Sensex was down 9 per cent during the same period. The stock  traded at its lowest level since June 23, 2021.

In Q4FY22, Infosys had reported a weak set of numbers as earnings before interest and tax (EBIT) margin contracted by 190 basis points (bps) quarter-on-quarter (QoQ)