The stock of Infosys, India's second largest company in the IT sector, saw a big fall today.
On Monday, April 18, 2022, the share of IT sector company Infosys fell by more than 7 percent.
Let us tell you that in the last two years, this is the biggest fall in the stock of Infosys, the second largest company in the IT sector.
After a four-day holiday in the stock market, heavy selling was seen in the stock of Infosys during the trading in the market.
Why Infosys Share Price Dropped?
The market is disappointed with the results of Infosys for the fourth quarter of FY 2021-22.
The share of information technology company Infosys opened at Rs 1605 in the morning and the stock fell by 7 per cent to Rs 1590.
Infosys has declared its results for the fourth quarter of FY 2021-22, which is not going well with the investors.
Let us tell you that the results of Infosys were declared after the close of trading in the market on Wednesday, 13th April.
Experts believe that the increasing numbers of IT professionals leaving Infosys are also disappointing in the market.
Infosys' profit for the fourth quarter rose 12 per cent to Rs 5,686 crore. The profit in the same quarter in the 2020-21 financial year was Rs 5076 crore.
Infosys' revenue for the fourth quarter grew 22.7 per cent to Rs 32,276 crore. The company has also announced a dividend of Rs 16 per share to the shareholders.
Infosys bagged contracts worth $2.3 billion in the fourth quarter of 2021-22. Infosys has won contracts worth $9.5 billion during the year.
Top 20 High Volume Low Price Stocks For Intraday In 2022 Which Has Great Earning Opportunity!