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Infosys drops 7 pct, drags Indian shares down

Indian shares fell early on Thursday, dragged down by more than a 7% drop in software bellwether Infosys Ltd after the company cuts its full-year revenue outlook.

india Updated: Jan 12, 2012 10:49 IST

Reuters
Hindustantimes
         

Indian shares fell early on Thursday, dragged down by more than a 7% drop in software bellwether Infosys Ltd after the company cuts its full-year revenue outlook.
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Infosys, India's second-largest software services exporter, reported a 33.3% rise in profit for the December quarter, but tempered its outlook because of the debt crisis in Europe, its second-biggest market.

At 9.17 a.m. (0347 GMT), the main 30-share BSE index was down 0.49% at 16,095.84 points with 7 its components trading in the red.

Infosys was down 6.25% at 2,650.25 rupees. The 50-share NSE index was down 0.43% at 4,840.30 points.

First Published: Jan 12, 2012 10:47 IST