NMDC suffers revenue loss of Rs 746 cr from 2007-10: CAG

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Infosys will miss its revenue prospects for fiscal year?

Reuters

Customer suspensions, slope-downs in a few large projects, delays in big deal closures and longer-than-expected client shutdown due to Hurricane Sandy, especially in the manufacturing industry, can lead to a threat to outlook, said a UBS note.

Even reports by brokerages Nomura and Barclays said that there is a risk for the organic growth of the company guidance based on recent conversations with Infosys CEO SD Shibulal and CFO Rajiv Bansal. Shutdown of influence in the industry, challenges in BFSI vertically and delays in decision-making are reasons cited by these brokerages for a possible miss on earnings guidance also.

UBS said it is surprised by potential cut, but fears his own revenue outlook prediction for company at 3.8 percent can be hurt as the effects of hurricane had Sandy not processed.

"Our conversation with Infosys reinforces our concerns on short term press guidance. This is likely to impact stock price about the near future, but we see limited downside from current levels, given the low expectations and cheaper valuations, "said the UBS the note.

Nomura said the possibility of an organic revenue growth forecasts cut in the third quarter of the current fiscal year remains high. It prefers companies with current business momentum as HCL Technologies, Cognizant Technology Solutions and Tata Consultancy Services.

UBS, both preserved "neutral" rating on Nomura stock of Infosys. Shares of Infosys fell 0.6 percent.

Indexing of the NSE has fallen 2.73 percent in the last two days after a Cognizant Technology Solutions Corp. filing with the SEC concerns about its revenue outlook to 2013.

With inputs from Reuters

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