April 15, 2019 / 4:19 AM / in 5 days

BUZZ-India's Infosys falters on weak FY20 guidance; TCS rises

** Shares of Infosys Ltd fall as much as 4.7 pct to 712.6 rupees, mark sharpest daily drop since Oct. 11, on weak FY20 margin guidance

** The software services exporter forecast an operating margin of 21-23 pct for FY20, after reporting a 10.4 pct rise in Q4 profit on Friday

** Wells Fargo calls guidance ‘light’; says operating margin guidance below its expectation of 22-24 pct; adds revenue growth guidance of 7.5-9.5 pct may be a touch below what Street was looking for

** Investec downgrades to ‘HOLD’, cuts TP to 750 rupees from 784 rupees earlier

** Nomura says margin risks remain, downgrades Infosys to ‘REDUCE’ from ‘NEUTRAL’,

** Stock top drag on NSE index, which is up 0.21 pct as of 0353 GMT

** Larger rival Tata Consultancy Services Ltd climbs 3.7 pct

** TCS reported record quarterly profit for the three months to March 31 at 81.26 bln rupees ($1.17 bln), up from 69.04 bln rupees last year

$1 = 69.2590 Indian rupees

0 : 0
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