Infosys Extends Biggest Slide in a Decade in U.S. on Sales View
This article is for subscribers only.
Infosys Ltd. plunged the most since 2003 in New York, following a 21 percent slide in Mumbai, after India’s second-largest software services exporter forecast annual sales growth will slow to as little as half the pace estimated by analysts.
American depositary receipts of Infosys sank 21 percent to $43.10 at the close in New York, the steepest decline since April 2003. Shares tumbled to 2,296.65 rupees in Indian trading, also the largest drop in a decade and the biggest slump on Mumbai’s S&P BSE India Index.