Infosys shares fall nearly 15%; mcap declines by Rs 73,060 cr post earnings announcement

Shares of Infosys on Monday tanked nearly 15 per cent in morning trade, wiping out Rs 73,060.65 crore from its market valuation after the company reported lower-than-expected growth in the fourth quarter net profit and gave a weak 4-7 per cent revenue growth guidance for FY24.

The stock tumbled 12.21 per cent to Rs 1,219 — its 52-week low mark — on the BSE.

At the NSE, it fell 14.67 per cent to its 52-week low of Rs 1,185.30.

Infosys was the biggest drag on both the benchmark indices Sensex and Nifty.

The company’s market valuation also declined by Rs 73,060.65 crore to Rs 5,08,219.35 crore.