Despite multi-billion-dollar order wins this year, translation to revenue will take time, CEO Salil Parekh said
Infosys fell as much as 10 percent in early Mumbai trading today, after the company halved the upper bound of its forecast for the current fiscal year, on July 20, dashing hopes of a macro recovery in the US—the IT sector’s biggest market—in the near term.
Even though Infosys was the only company amongst its peers to post any sequential growth for the three months ended June 30, CEO Salil Parekh said clients in critical segments such as financial services are just not spending on anything outside of what is necessary.