Infosys shares slump on weak revenue outlook

Shares in Infosys Ltd plummeted 15 percent in early trading after the company disappointed markets with a lower-than-expected revenue outlook despite fourth-quarter earnings beating analyst expectations by a small margin.

Also read: Infosys crashes 20%; Q4 earnings miss street estimates

The company said it expected 2013/14 revenue to grow 6-10 percent, lower than market expectations of 12 percent, and added that global economic uncertainties remain challenging for the industry.

Infosys shares were trading down 17 percent at 2420 rupees in early trade. Other technology shares also fell with TCS down 2.6 percent, Wipro losing 4.8 percent and HCL Technologies down 3 percent.

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