Infosys stock crashes by more than 7

Infosys Technologies stock share price fell more than 7 percent on Friday.

Written by: Agencies

1 min readMumbaiApr 15, 2011 09:09 AM IST First published on: Apr 15, 2011 at 09:09 AM IST

Infosys Technologies stock share price fell more than 7 percent on Friday after the Indian outsourcing firm reported lower-than-expected fourth quarter net profit,and dragged the broader market down.

Infosys,India’s second-largest software exporter,lagged market expectations despite a 13.7 percent rise in quarterly profit,hurt by higher expenses in a seasonally weak quarter.

At 9:36 a.m. 0406 GMT,Infosys shares were down 7.2 percent,while the main stock index slipped 1.1 percent.

# Infosys q4