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)