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Infosys share falls 2% ahead of Q2 earnings

Infosys share has declined after 8 days of consecutive gain

twitter-logoBusinessToday.In | October 14, 2020 | Updated 12:52 IST
Infosys share falls 2% ahead of Q2 earnings
Infosys stock touched an intraday low of Rs 1134.2 , losing 2.06%

Share of Infosys fell 2% in early trade ahead of the IT firm's Q2 earnings set to be announced today. Infosys share has declined after 8 days of consecutive gain. The stock touched an intraday low of Rs 1134.2 , losing 2.06%.

Infosys stock is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. Market capitalisation of the IT major fell to Rs 4.86 lakh crore as of today's session. Infosys share price has gained 6.75% in one week, 16.42% in one month and 55.59% since the beginning of the year. The stock has risen 44% in one year.

 Total 4.83 lakh shares changed hands amounting to turnover of Rs 55.58 crore on BSE.

Infosys is expected to raise revenue guidance for the current fiscal boosted by strong deal wins and improved business environment. Analysts at Sharekhan expect Infosys to report revenue growth of 2.7 per cent on quarter-on-quarter basis, while in dollar terms it is likely to grow by 4.1 per cent QoQ.

Infosys Q2 preview: Revenue growth around 3%; FY21 guidance to be raised

On Tuesday, Infosys share price hit its all-time high a day ahead of the IT firm's Q2 earnings. Share price of Infosys touched an all-time high of Rs 1165.85, rising 2.96% on BSE. Market capitalisation of the IT major rose to Rs 4.93 lakh crore as of today's session, one percent short of the Rs 5 lakh crore market cap mark.

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