Infosys ADR down 6% on NYSE after IT major reports Q3FY25 results

American Depository Receipt (ADR) shares of India’s second-largest software services provider witnessed a sharp decline on the New York Stock Exchange (NYSE) after declaring its October-December quarter results for fiscal 2024-25 (Q3FY25). Infosys ADR crashed six per cent to $21.515 on the American stock exchange even after the IT major hiked its FY25 revenue growth guidance for the third straight quarter to 4.5-5 per cent today.

On Thursday, January 16, the Sahil Parekh-led tech giant reported a rise of 11.4 per cent in net profit at ₹6,806 crore, compared to ₹6,106 crore in the year-ago period. The revenue for the quarter under review came at ₹41,764 crore, up 7.6 per cent year-on-year (YoY). The revenue in constant currency (CC) terms, rose 6.1 per cent YoY and declined by 1.7 per cent sequentially.

India’s stock exchanges have banned fresh trading of Kalyan Jewellers Ltd’s stock futures and options contracts in the derivatives segment after trader outstanding positions in the counters came close to the threshold or limit for such positions. 

This follows the market capitalisation of the country’s second-largest jewellery maker falling by a third since the start of this year.

The ban on Thursday came less than 48 hours after Kalyan Jewellers’ management tried to assuage investor concerns about the company’s share price crash. Despite the management’s assurances that it was business as usual, Kalyan Jewellers shares fell 6.9% on Wednesday and another 2.9% on Thursday.

The F&O ban is implemented by exchanges based on rules framed in consultation with the Securities and Exchange Board of India.