Infosys shares decline over 1 pc post Q1 earnings mkt valuation drops by Rs 8 661.66 cr

     New Delhi, Jul 24 (PTI) Shares of Infosys Ltd declined over 1 per cent on Thursday as profit-taking emerged on the counter, a day after the firm reported its June quarter earnings.
     The blue-chip stock dropped 1.32 per cent to Rs 1,553.55 apiece on the BSE. During the day, it declined 1.66 per cent to Rs 1,548.20.
     On the NSE, it dipped 1.36 per cent to end at Rs 1,553 a share.
     The company's market valuation eroded by Rs 8,661.66 crore to Rs 6,45,387.02 crore.
     In volume terms, 3.80 lakh shares of the firm were traded on the BSE and 141.70 lakh shares exchanged hands on the NSE during the day.
     "After a flat start, the Nifty gradually moved lower, primarily weighed down by persistent weakness in IT majors following Infosys' results..." Ajit Mishra, SVP - Research at Religare Broking Ltd, said.
     Infosys Ltd on Wednesday reported an 8.7 per cent rise in the June quarter net profit and narrowed its full-year revenue forecast after stronger-than-expected earnings growth.
     The company reported a consolidated net profit of Rs 6,921 crore in April-June -- the first quarter of 2025-26 fiscal -- compared to Rs 6,368 crore earnings in the same period a year back, according to a company statement.
     The IT services company narrowed its annual revenue growth forecast to a 1-3 per cent band from a prior 0-3 per cent range.
     Revenue from operations at Rs 42,279 crore was 7.53 per cent higher year-on-year and 3.3 per cent higher quarter-on-quarter, on the back of strong performance in AI and deal wins.
     Net profit, however, fell 1.5 per cent sequentially when compared to the January-March quarter.
     Despite a positive start, the 30-share BSE Sensex failed to carry forward the momentum and fell later in the trade. The benchmark tanked 542.47 points, or 0.66 per cent, to settle at 82,184.17. The 50-share NSE Nifty dropped 157.80 points, or 0.63 per cent, to 25,062.10.

(This story has not been edited by THE WEEK and is auto-generated from PTI)