Indian IT firm Tech Mahindra's shares jump most in 8 years on turnaround plan [Yahoo! Finance]
Infosys Limited American Depositary Shares (INFY)
Last infosys limited american depositary shares earnings: 4/21 04:00 pm
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Source: Yahoo! Finance
announced a turnaround plan that offered succour following declining revenue growth for the past three quarters. The stock was up 8.6% at 1,292.25 rupees as of 11.48 a.m. IST, leading gains on the Nifty IT index, which was up 1.8%. Including the day's move, Tech Mahindra is up 2% so far this year compared with a 4% fall in the IT index. Larger rival Infosys was down 6.8%, while Tata Consultancy Services was up 2.2%. The Pune-based Tech Mahindra laid out a three-year plan on Thursday, aimed at increasing revenue and doubling operating margin to 15% by fiscal 2027. The company reported a fall in revenue between 2% to 6.2% in rupee terms in the last three quarters, including the March quarter. Brokerages welcomed the company's turnaround plan, with HSBC writing, "The new transformation plan looks quite sensible - acknowledging the need (for) investment in sales and to manage costs to expand margins. However, we believe the path to this turnaround is going to be challenging, at be
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INFY
Earnings
- 4/19/24 - Beat
INFY
Sec Filings
- 4/24/24 - Form 6-K
- 4/18/24 - Form 6-K
- 4/2/24 - Form 6-K
- INFY's page on the SEC website