Infosys slips over 2.5% after hitting a new high post healthy Q2 numbers

Shares of Infosys slipped over 2.5 per cent on the BSE in the morning deals on Thursday after hitting a fresh record high of Rs 1,185 in the early trade. The IT major on Wednesday reported healthy set of July-September quarter (Q2FY21) numbers on revenue and profitability front. The company has also revised its FY21E revenues guidance upwards from 0-2 per cent year on year (YoY) to 2-3 per cent YoY in constant currency basis and operating margin guidance to 23-24 per cent from 21- 23 per cent.

The stock, in the early trade, surpassed its previous high of Rs 1,165.85, touched on Tuesday, October 13, 2020. However, the stock erased its early morning gains, and slipped 2.8 per cent to Rs 1,103.75 in intra-day trade, falling around 7 per cent from day’s high level on profit booking.