Infosys shares erase opening gains; decline 3%

Shares of Infosys on Thursday erased its opening gains and declined 3 per cent on emergence of profit-booking a day after the company announced its September quarter earnings.

Even after opening with over 4 per cent gains and hitting a record high of Rs 1,185, the stock failed to maintain the momentum and dipped 2.84 per cent to Rs 1,103.75 as trade progressed on BSE.

After similar movement, it dropped 2.96 per cent to Rs 1,103.30 on NSE.

Infosys on Wednesday posted 20.5 per cent rise in September quarter net profit to Rs 4,845 crore, mainly helped by large deals, prompting the IT services major to raise its revenue growth forecast to 2-3 per cent for FY21.