Infosys Stocks Plunge Despite Profit Surge

Infosys shares fell nearly 6% following profit-taking after announcing third-quarter earnings. Despite a significant profit increase and raised sales forecast, the stock's decline impacted market indices. Other IT stocks also saw a decrease. Infosys reported an 11.46% rise in net profit, driven by higher demand.

Infosys shares experienced a steep decline of nearly 6% on Friday, as investors engaged in profit-taking after the company announced its third-quarter earnings.

The stock's drop had a notable impact, dragging down major market indices, with other prominent IT companies like Tata Consultancy Services, Tech Mahindra, and Wipro also witnessing a downturn.

The IT giant reported a significant 11.46% increase in net profit and raised its sales forecast, buoyed by heightened demand in financial services and other sectors, despite typical seasonal challenges.

(With inputs from agencies.)