Discretionary spending in financial services strong but other verticals still slow: Infosys’ Salil Parekh
Outside of financial services, other industries are yet to have any change in discretionary spending, says Salil Parekh.
Outside of financial services, other industries are yet to have any change in discretionary spending, says Salil Parekh.
Post Q2 results, the U.S.-listed shares of Infosys plunged 6.5% to $16.46 in overnight trade on NYSE after the IT heavyweight cut revenue guidance for the second in a row.
The financial results and proposal for interim dividend, if any, will be presented to the board of directors on October 12, 2023 for their approval,” Infosys says in an exchange filing.
The board of Infosys on Thursday approved to buyback of 5.02 crore equity shares of the face value of ₹5 at ₹1,850 per share for about ₹9,300 crore.
Revenue rises 17.3% due to better digital offerings and broad-based growth across business segments.
Tier-I firms expected to post quarter-on-quarter top line growth in the range of 0.5- 4.5%, said analysts