Infosys Ltd may cut FY14 revenue guidance: Morgan Stanley - Indian Express

Reuters : Mon Jul 01 2013, 11:48 hrs < img src="http://static.indianexpress.com/m-images/Mon%20Jul%2001%202013,%2011:48%20hrs/M_Id_398101_Infosys.jpg" alt="Infosys" width="660" title="Morgan Stanley says Infosys Ltd may cut its fiscal 2013/14 revenue outlook to 4-6 growth. (Reuters)"/>Morgan Stanley says Infosys Ltd may cut its fiscal 2013/14 revenue outlook to 4-6 growth. (Reuters) Morgan Stanley says Infosys Ltd may cut its fiscal 2013/14 revenue outlook to 4-6 percent growth, from the 6-10 percent growth it forecast in April, as wage hikes and productivity hit quarter-on-quarter margins and offset rupee depreciation. Morgan Stanley adds traditionally a weakening rupee benefits small and mid-cap IT services more than larger ones such as Infosys. STOCK MARKETS LINKS * BSE Sensex * NSE Nifty An Infosys spokeswoman did not have an immediate comment. Infosys shares have been under pressure since Infosys in April forecast full-year sales growth that widely missed analysts' expectations. The software services exporter has since brought back former CEO Narayana Murthy as its executive chairman in an effort to turn around its fortunes. Infosys shares were down 1.6 percent at 0526 GMT. The shares have gained about 7 percent after a 21 percent dive on April 12 when the company's forecast for the current fiscal year disappointed investors. Rival Tata Consultancy Services is little changed in the same period and the broader market has gained close to 6 percent. ALSO READ Infosys Ltd may cut FY14 revenue guidance: Morgan Stanley Maruti Suzuki India total sales down 12.6% in June AirAsia to add at least 10 planes a year for India operations India June factory PMI edges up but remains weak as orders shrink: poll Please read our terms of use before posting comments TERMS OF USE: The views, opinions and comments posted are your, and are not endorsed by this website. You shall be solely responsible for the comment posted here. The website reserves the right to delete, reject, or otherwise remove any views, opinions and comments posted or part thereof. You shall ensure that the comment is not inflammatory, abusive, derogatory, defamatory &/or obscene, or contain pornographic matter and/or does not constitute hate mail, or violate privacy of any person (s) or breach confidentiality or otherwise is illegal, immoral or contrary to public policy. Nor should it contain anything infringing copyright &/or intellectual property rights of any person(s). via Business - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNH-MdRnVnXa_xYDOmWda1jJjIDf8Q&url=http://www.indianexpress.com/news/infosys-ltd-may-cut-fy14-revenue-guidance-morgan-stanley/1136143/

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