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Infosys openness backfires as missed guidance frustrates market


By Harichandan Arakali and Aradhana AravindanBANGALORE/MUMBAI (Reuters) - The openness that made IT services outsourcer Infosys Ltd an investor darling has come back to haunt it.For years, Infosys was an industry bellwether for not just giving revenue and earnings guidance but usually exceeding it, making it an outlier in a country where very few companies offer guidance and corporate transparency is often lacking.But several times in the past two years, Infosys has missed its own forecasts, precipitating violent stock moves that culminated in a 21 percent plunge on the day of its most recent ...

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First Published: Thu, April 25 2013. 02:42 IST