While the process of leaving employees continues at the Indian tech giant, Infosys investors suffered a major setback as the stock market opened on the first day of the week. The company's shares fell up to nine percent and due to this, investors lost Rs 40,000 crore in just a few minutes.
Market trading with a decline
Talking about the shares of Infosys in the market today, at 9.30 in the morning, the company's shares were trading at Rs 1592, down nine percent. This fall in the company's stock is the biggest fall since 23 March 2020. However, as the market progressed, there was some improvement in it and till 11.17 am, the share price was trading with a loss of 7.56 percent. Due to this fall in shares, investors lost Rs 40,000 crore during a few minutes of trading with the opening of the market.
Market capitalization fell here
The company's market cap (market capitalization) on the Bombay Stock Exchange (BSE) also fell to Rs 6,92,281 crore due to this huge fall in Infosys shares coupled with a poor start to the stock market. It is worth noting that the impact of the company's fourth-quarter results is visible on the price of the shares. Jefferies India has lowered Infosys' margin estimates from 1 to 1.7 percent. Infosys' margin slipped 1.93 percent to 21.6 percent on a quarter-on-quarter basis. According to the report, this is due to the reduction in working days as well as higher than expected costs.
80 thousand left jobs in three months
According to the report in the past, while the company is planning to hire 50,000 in the coming time, on the other hand, the number of employees leaving the company is also high in Infosys. 27.7 percent of the company's employees left their jobs during the January-March quarter. The number of employees leaving Infosys in three months is also around 80000. Infosys released its fourth-quarter results on Wednesday. The company has made a profit of Rs 5686 crore. According to the company, its profit has increased by 12 percent compared to the previous quarter.
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