Infosys shares tumble 10% after cut in full-year revenue guidance; mcap falls by Rs 43,776 crore

Shares of Infosys tanked nearly 10 per cent on Friday morning after the company reported a lower-than-expected 11 per cent rise in net profit for the June quarter and slashed its FY24 growth outlook.

The stock tumbled 9.47 per cent to Rs 1,311.60 on the BSE.

At the NSE, shares of the company cracked 9.96 per cent to Rs 1,305 apiece.

The company’s market capitalisation (mcap) fell by Rs 43,776.29 crore to Rs 5,57,287.83 crore in morning trade.

It was the biggest laggard among both Sensex and Nifty firms.