Infosys Ltd shares fell by 15% after their dismal revenue outlook raised concerns about demand for Indian IT services during global banking turmoil and recession fears. The company's peers and benchmark index also experienced a decline. Infosys' outlook raised concerns for the IT sector, which generates more than 25% of its revenue from the US and European banking, financial, services and insurance sector. The disappointing report from its larger rival, Tata Consultancy Services, further highlighted the worries for the sector.
Infosys shared a tumble of about 15% in early trade with m-cap declines
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