Type Here to Get Search Results !

Top Ad

Infosys Share Price: Infosys shares fell nine percent, investors lost 40000 crores as soon as the market opened

 Table of Content(toc)


While the process of leaving employees continues at the Indian tech giant, Infosys investors suffered a major setback as the stock market opened on the first day of the week.

The company's shares fell up to nine per cent and due to this, investors lost Rs 40,000 crore in just a few minutes.

Market trading with a decline

Talking about the shares of Infosys in the market today, at 9.30 in the morning, the company's shares were trading at Rs 1592, down nine percent. This fall in the company's stock is the biggest fall since 23 March 2020. However, as the market progressed, there was some improvement in it and till 11.17 am, the share price was trading with a loss of 7.56 per cent. Due to this fall in shares, investors lost Rs 40,000 crore during a few minutes of trading with the opening of the market.

Market capitalization fell here

The company's market cap (market capitalization) on the Bombay Stock Exchange (BSE) also fell to Rs 6,92,281 crore due to this huge fall in Infosys shares coupled with a poor start to the stock market. It is worth noting that the impact of the company's fourth quarter results is visible on the price of the shares. Jefferies India has lowered Infosys' margin estimates from 1 to 1.7 per cent. Infosys' margin slipped 1.93 per cent to 21.6 per cent on a quarter-on-quarter basis. According to the report, this is due to the reduction in working days as well as higher than expected cost.

80 thousand left job in three months

According to the report in the past, while the company is planning to hire 50,000 in the coming time, on the other hand the number of employees leaving the company is also high in Infosys. 27.7 per cent of the company's employees left their jobs during the January-March quarter. The number of employees leaving Infosys in three months is also around 80000. Infosys released its fourth quarter results on Wednesday. The company has made a profit of Rs 5686 crore. According to the company, its profit has increased by 12 percent compared to the previous quarter.

News Source: News Crab, 18 April 2022

Post a Comment

* Please Don't Spam Here. All the Comments are Reviewed by Admin.