Infosys poor show hits IT Index

(posted under Infosys results) - A 8.5 percent decrease in yoy profit forced Infosys stock selling by investors thus moving the stock price of India's second largest It services company down by over 2 percent at closing.

When the quartely results poured in Shares in Infosys were down 2 per cent at Rs 2,836.90. The 50-share NSE index was down 0.1 per cent at 5,376.80. This is OK, However the major reason for concern is that as attrition rate of Infosys has crossed 16 perc (which means that the most brilliant 16/100 have already left the company) so how it would deliver on time to the clients.

Middle managemant attrition is specially an area of big concern for the IT services company.