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10 months ago
BUZZ-India's Infosys falls after company lowers FY17 revenue guidance
October 14, 2016 / 4:46 AM / 10 months ago

BUZZ-India's Infosys falls after company lowers FY17 revenue guidance

** Shares of Infosys drop as much as 5.3 pct at 996 rupees, lowest since July 20, 2015

** India's second-largest IT services firm cuts FY17 revenue guidance to 8 pct-9 pct in constant currency, from 10.5 pct to 12 pct

** The fall in share reverses earlier gain of as much as 2.9 pct after Infosys said Q2 net profit rose 6.1 pct, beating market expectations

** Rival TCS on Thursday posted an 8 pct rise in Sept-qtr profit, beating estimates

** Stock down 4.8 pct this year, as of Thursday's close, compared with a near 9 pct decline in the Nifty IT index (RM: aastha.agnihotri.thomsonreuters.com@reuters.net)

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