New Delhi, April 15 -- Shares of Infosys Ltd on Monday fell as much as 4.6%, their steepest fall in six months, after many brokerages downgraded the stock on a disappointing revenue forecast.
The stock fell as much as 4.56%, the most since 11 October 2018, to hit a low of Rs.713.70 a share. At 9.36 am, the scrip was trading at Rs.713.70 on the BSE, down 2.8% from its previous close. India's benchmark Sensex rose 0.14% to 38822.04 points.
The company said revenue will increase 7.5% to 9.5% in constant currency terms in the year ending March 2020. It forecast an operating margin 21% to 23% for fiscal year 2020 estimates, from an earlier guidance of 22-24% for fiscal year 2019.
The negative surprise on margin guidance is due to continued in...