Infosys Shares Plummet Despite Profit Growth

Infosys shares fell by 4.50% after second quarter earnings. Despite a 4.7% rise in net profit, market valuation dropped significantly. The company raised revenue guidance due to increased demand, but investor sentiment remained low, affecting major market indices.

Infosys Ltd, India's tech giant, witnessed a sharp decline in its stock, dropping 4.50% on Friday amidst lackluster investor response to its quarterly earnings report.

Despite reporting a near 5% increase in net profit and raising its revenue guidance for the fiscal year, market valuation plummeted by over Rs 31,000 crore.

This downward trend in Infosys shares significantly impacted major market indices, dragging the BSE Sensex and NSE Nifty down.

(With inputs from agencies.)