Infosys Q1 net up 35; rupee worries remain

Despite the revised outlook, company officials remained optimistic that Infosys is in a position of strength for broad growth. 8220;Despite absorbing a salary increase, visa costs and the rupee appreciation, we have been able to sustain growth,8221; said CEO and managing director Kris Gopalakrishnan .

IT stocks dive on lower Infy guidance

It was a bad day for the stock markets in general, and IT stocks in particular. The BSE Sensex lost 99.26 points to 14,910.62, tracking weak global markets and lower EPS and revenue guidance by Infosys in rupee terms. IT pivotals, led by Infosys, saw intense selling pressure right from the opening bell. Four of the top five losers from the Sensex were IT stocks. The BSE IT Index tumbled 3.34 per cent at 4,868.77, and was the top loser among sectoral indices on BSE. Infosys Technologies slumped 4.5 per cent to Rs 1,929. Among other IT stocks, Satyam Computers shed 3.25 per cent, TCS lost 3.10 per cent and Wipro lost 1.97 per cent.