DBT Bureau
Bengaluru, 17 January 2025
After announcing the third quarter results, share prices of Infosys and LTIMindtree have received a thumbs down from investors. Share price of both companies have dipped in the morning trade at both BSE & NSE.
The share price of Infosys is currently trading 5.9% down at Rs 1,816.35 at NSE (11.45 AM). Post announcement of its Q3 results, Infosys’ ADR crashed around 5.7% at NYSE.
Investors have shown concerns over the outlook of the Bengaluru-headquartered IT firm going ahead. Though the company raised its revenue guidance for FY25, the fourth quarter revenue growth is expected to be tepid, which has dampened the mood of investors.
Similarly, LTIMindtree’s share price slipped around 2.11% on Friday despite the company posting healthy Q3 numbers.
Kotak Institutional Equities has retained its ‘Buy’ call on LTIMindtree post the Q3 results as it said the IT firm reported an interesting quarter with healthy revenue growth of 3.4% in US dollar terms, ex-technology vertical, and record-high total contract value (TCV) of $1.68 billion.
