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Infosys m-cap dives Rs 35,740cr

Infosys m-cap  dives Rs 35,740cr
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Mumbai (PTI): Shares of Infosys on Friday nosedived by 22 per cent, eroding Rs 35,740 crore from its market value, as the IT major reported...

Mumbai (PTI): Shares of Infosys on Friday nosedived by 22 per cent, eroding Rs 35,740 crore from its market value, as the IT major reported disappointing fourth quarter numbers and lower-than-expected guidance for 2013-14 fiscal.

The disappointing revenue forecast prompted investors to offload the stock, pulling it down by over 22 per cent to Rs 2,268 during the day. The heavyweight scrip closed 21.33 per cent lower at Rs 2,295.45 on the BSE, pulling down the overall stock market by around 300 points.

Infosys weight on BSE 30-stock index, Sensex, declined to 7.19 per cent. At NSE, the stock crashed 22.07 per cent to settle at Rs 2,273.05.A The company's market-cap tanked Rs 35,740 crore to Rs 1,31,813 crore.

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