Infosys stock settle 2 pc lower

The stock of the company declined 2.24 per cent to end at Rs 1,431.80 apiece on the BSE, emerging as one of the biggest laggards among the Sensex shares.

New Delhi: Shares of Infosys settled 2 per cent lower on the bourses, a day after the IT services company announced its September quarter earnings.

The stock of the company declined 2.24 per cent to end at Rs 1,431.80 apiece on the BSE, emerging as one of the biggest laggards among the Sensex shares.

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On the NSE, Infosys shares dropped 2.23 per cent to close the day at Rs 1,432.85 per piece on the NSE.

On the volume trade, nearly 1.80 crore equity shares were traded on the NSE, while 11.35 lakh shares changed hands on the BSE.

The 30-share BSE Sensex declined 125.65 points to close at 66,282.74 points, while NSE Nifty fell 42.95 points to settle 19,751.05 points.

Infosys on Thursday reported a 3.1 per cent year-on-year increase in net profit to Rs 6,215 crore in the September quarter.

The company, a major player in the IT services market, competes with firms like TCS, Wipro, and HCL Technologies.

Its revenue increased 6.7 per cent to Rs 38,994 crore for the just-ended September quarter.

While announcing the September quarter results, Infosys Chief Executive Officer and Managing Director Salil Parekh said, “We had our highest large deal value at USD 7.7 billion in Q2 spread across all verticals and geographies.

“This, in an uncertain macro-environment, is a testament to our ability to pivot and stay relevant to evolving client needs by delivering the benefits of transformation as well as productivity and cost savings at scale,” Parekh added.

Ahead of the announcement of the quarterly performance on Thursday, shares of the Bengaluru-based firm had plunged 3 per cent.