Infosys Shares Plunge After Sales Forecast Reduced: Mumbai Mover
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Infosys Ltd., India’s second-largest software exporter, plunged the most in three months after cutting its sales forecast and reporting first-quarter profit that missed estimates.
Sales in the year ending in March may rise to at least $7.34 billion, Bangalore-based Infosys said in a statement today, lower than the $7.55 billion it forecast in April. Infosys also reported first-quarter net income that lagged behind analysts’ estimates for the first time in four quarters.