1. Infosys shares fall over 3% on reports of acquisition ahead of key announcement

Infosys shares fall over 3% on reports of acquisition ahead of key announcement

Infosys shares dropped following expectations that the company may announce $1 billion worth of acquisition which may weigh on company's earnings.

By: | Updated: August 20, 2015 4:21 PM
Infosys shares

Infosys shares dropped following expectations that the company may announce billion worth of acquisition which may weigh on company’s earnings. (Photo: Reuters)

Infosys shares dropped over 3 per cent on Thursday following expectations that the company may announce $1 billion worth of acquisition which may weigh on company’s earnings. According to Infosys’ website, the company will make a major announcement at 5 pm later in the day.

The scrip closed 3.14 per cent lower at Rs 1,138.20.

Infosys’ cash and cash equivalents, available-for-sale financial assets and government bonds were at $4.75 billion at the end of June quarter.

For the year ended March 2015, the company reported a consolidated net profit of Rs 12,329 crore, up 15.79 per cent against Rs 10,648 crore last year.

(With inputs from Reuters)

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