Infy stocks crumble in trade on expectations of huge billion dollar acquisition
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Infosys said it would make a major announcement at 5 pm today evening, according to its website. The expectation is that Infosys may unveil a billion-dollar purchase, which could hurt earnings in the coming quarters.
As a consequence, Infosys fell 42 rupees, or 3.6 percent, to 1,133.80 rupees on the
Infosys' market capitalisation has gained 27 percent in the past one year to 2.62 lakh crore rupees. The stock trades at 4.8 times book value of 236 rupees.
(Image credits: Indiatimes)
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