Yesterday, Infosys had a conference call with its investors and what came forth was not very encouraging. The company chief’s said on the call that Infosys continued to face challenges in some verticals like energy and telecom. They expected margins to take a hit in December quarter as seasonally too, it is a weak period. The company expects a pick-up in margins only by Q4 while maintaining its full year constant-currency revenue guidance of 10-12%. Thus margins, vis-à-vis the first half could see a further shrink.

Naturally, the market is a bit perturbed and the stock is down in the red at Rs.1058, down over 2% and this was after hitting a two-month low at Rs.1056.90.