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Infosys shares brace for selloff post FY24 guidance cut. Stock may underperform peers, say analysts

Infosys: If an overnight 7 per cent fall in Infosys American depositary receipt (ADR) is any hint, Infosys shares are likely to see a steep fall as the market opens on Friday. This could be a similar fall that the stock witnessed post Q1 results.

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Infosys stock price target: Infosys tanks 7.7% on downgrades; leads sell-off in the IT world

Infosys saw a share plunge of 7.7% after the company cut its FY24 revenue guidance from 4-7% to 1-3.5%, resulting in an industry-wide sell-off that saw the NSE IT index fall 4.1%. Jefferies, Nomura, Bank of America Securities, Motilal Oswal Financial Services, Nuvama Institutional Equities and HSBC cut earnings estimates as a result. ....

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