Indian software giant Infosys cut its annual earnings outlook for the second time in just three months Friday, sending shares down almost three percent, as cautious clients rein in spending.
India's Tata Consultancy Services reported an 8.8 percent year-on-year rise in quarterly profits Thursday as strong growth in Europe helped the IT giant override a slump in its domestic market.
Infosys shares plunged more than nine percent on the Bombay Stock Exchange Friday after the Indian software giant cut its earnings outlook for the year.
Indian software giant Infosys reported a better-than-expected 6.6 percent rise in quarterly earnings on Thursday, riding out the effects of deadly floods in Chennai and sending its stock soaring.
Indian software giant Infosys on Monday reported a 9.8 percent rise in quarterly net profit, beating expectations, on the back of a weak rupee and robust demand from the United States.
Indian software giant Infosys Technologies reported a five percent rise in quarterly net profits on Tuesday, aided by a weak rupee and strong demand from the United States.
Indian software giant Infosys Technologies saw its shares dip nearly seven percent Friday after it reported a single digit rise in yearly revenues and also missed quarterly profit estimates.
Co-founders of Infosys sold $1.1-billion worth of stock in India's second-biggest software services firm Monday, pushing down the share price of the pioneering outsourcing company by nearly five percent.
Shares in Indian outsourcing giant Infosys climbed nearly four percent on Thursday after the company announced a new chief executive who will take over in August.
Shares in Indian outsourcing giant Infosys sank by seven percent on Thursday after the latest departure of one of the company's senior managers.