Infosys Technologies Ltd., the Indian global technology services company with 64 offices and 68 development centers in India and abroad. The company provides business consulting, technology, engineering and outsourcing services to help clients in over 30 countries.
The company was scheduled to announce its fourth quarter of fiscal 2012 results. Brokers were expecting the company to have revenues equal to Rs 9,391-9,412 crore and growth guidance exceeding Nasscom’s guidance of 11-14%. They maintained the BUY rating for the stock.
However, the situation was other way around on VantageTrade. On 10th April, 3 days before posting the results by Infosys Technologies Ltd., it indicated that the trend of the stock is down at the price of 2,759.80.
After 3 days, on Friday 13th, the company released the results that were below market expectations, with guidance being the most disappointing factor. The company projected it to be 8-10% against expected 12-15%. After that information the shares of Infosys Technologies fell down more than 12% and are still trading much below the pre-result level.
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