सावधान! ये 10 खतरनाक Food Combinations आपकी सेहत बिगाड़ रहे हैं!
Infosys Shares : The stock market can be a volatile and unpredictable place, where investors eagerly await the financial results of companies to gauge their performance. One such company that recently faced the brunt of a sell-off heat is Infosys, India’s second-largest IT services company. In this article, we will delve into the reasons behind Infosys’ declining share price, its recent financial results, and the expert advice given to shareholders.
The woes for Infosys shares started at the opening bell of the stock market when the share price today opened lower than expected. Within a few minutes, it plummeted by around 10 per cent, raising concerns among investors and analysts.
One significant reason for this downturn was the announcement of Infosys’ Q1FY24 results, where the company revised its revenue growth guidance. The new projection ranged from 1 per cent to 3.5 per cent, down from the previous forecast of 4 per cent to 7 per cent. This drastic reduction in expectations had a profound impact on the stock’s market value.
The repercussions were felt beyond India’s stock market, as Infosys is also listed on the New York Stock Exchange (NYSE). After the weak guidance call, Infosys ADR shares nosedived, falling by approximately 13.50 per cent, closing at $16.22 per share. The news of the lowered revenue guidance left global investors concerned about the company’s future prospects.
Several experts chimed in with their assessments of the situation. Anuj Gupta, the Vice President of Research at IIFL Securities, attributed the bearish sentiment to Infosys’ decision to cut its revenue guidance for FY24. He opined that the decision did not sit well with investors worldwide, leading to the sell-off.
Given the bearish outlook for Infosys shares, experts are advising shareholders to be cautious. Sumeet Bagadia, the Executive Director at Choice Broking, pointed out that the stock had breached its immediate support level at ₹1,350 apiece, suggesting a potential further decline.
In light of the stock’s current performance, Anuj Gupta of IIFL Securities advised shareholders to consider an ‘exit on rise’ approach. This means selling Infosys shares during any price uptick and considering re-entry at the ₹1,250 to ₹1,280 range.
Despite the market turmoil, Infosys did report a rise of 11 per cent in net profit for the first quarter of FY24, reaching ₹5,945 crore compared to ₹5,360 crore in the same period the previous year. However, the sharp reduction in the revenue guidance overshadowed this positive development.
One of the factors contributing to the revised guidance was the increasingly challenging demand environment faced by the IT services industry. This headwind added to the uncertainty surrounding Infosys’ future growth prospects.
In conclusion, Infosys shares have experienced a significant downturn in the wake of the company’s Q1FY24 results and the subsequent revision of its revenue growth guidance. The sell-off heat has been fueled by investor concerns about the company’s future performance amid a challenging demand environment. As the market continues to react to these developments, shareholders are advised to tread cautiously and make informed decisions.
For more updates follow Allinfohere
The recent developments have raised concerns about Infosys’ long-term prospects. Investors should carefully assess the company’s future growth plans and financial performance before making any investment decisions.
The recovery of Infosys’ share price depends on several factors, including its ability to meet revised revenue targets and navigate the challenging market conditions. Investors should closely monitor the company’s performance and seek expert advice.
Apart from company-specific factors, the IT services industry is influenced by global economic conditions, technological advancements, and geopolitical events.
The ‘exit on rise’ strategy should be adopted after careful consideration of your investment goals and risk tolerance. It is advisable to consult with a financial advisor before making any decisions.
नवरात्रि के नौ पवित्र दिनों में से प्रत्येक दिन एक अलग देवी को समर्पित होता…
नवरात्रि हिंदू धर्म का एक पवित्र त्यौहार है, जो नौ देवी रूपों की पूजा का…
कामदा एकादशी, हिंदू धर्म में एक महत्वपूर्ण व्रत और उत्सव है। यह भगवान विष्णु को…
चैत्र नवरात्रि, हिंदू धर्म के पावन पर्वों में से एक है। यह नौ दिनों तक…
आश्विन अमावस्या, हिंदू धर्म में एक महत्वपूर्ण दिन माना जाता है. यह हिंदू पंचांग के…
हिंदू धर्म में देवी मां की पूजा का विशेष महत्व है। पूजा की विधि विधान…