On July 30, Infosys declined 5.04% in regular trading, trading at $12.045/share, with turnover of $59.22 million. The drop came after the stock had rallied over 10% cumulatively in the prior two trading sessions.
The pullback was driven by a broad sell-off across the IT services sector, coupled with lingering negative sentiment from Infosys's Q1 fiscal earnings released on July 23. The company reported EPS of $0.20, missing the consensus estimate of $0.21 by approximately 4.76%. Additionally, Infosys lowered its FY2027 sales growth guidance, prompting Jefferies to cut its price target from INR 1,235 to INR 1,020 while maintaining a Hold rating. Net profit of 77.75 billion rupees also came in below the market expectation of 78.34 billion rupees.
Within the IT Consulting & Other Services sector, peers also saw significant declines: Accenture down 6.47%, Cognizant down 6.36%, EPAM Systems down 5.89%, IBM down 2.54%, and Gartner down 8.97%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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