We look at the previous instances of Infosys facing similar dips in share prices
18-Apr-2023 •Asif Ali
It wasn't a happy ending to FY23 for Infosys. After posting a disappointing set of numbers for its Q4 FY23 performance, the market sent the stock on a tumbling. On April 17, 2023, shares of Infosys sank by about 9 per cent.
As is often the case for companies that earn a chunk of their revenue through exports, a weak outlook from the global economy and fears of recessions were the primary culprits behind Infosys's poor performance.
Due to the macro woes, the company saw an unexpected dip in revenue in Q4 FY23, which startled investors.
However, this is not Infosys's first gig when it comes to navigating an adverse macro environment. In fact, since 2001, the stock has witnessed a drop of 10 per cent or higher 18 times.
While Infosys's management has past experience in dealing with such headwinds, only time will say how the new fiscal year will fare for Infosys.