Infosys beats TCS in 2nd qtr revenue growth
BFSI Vertical Does Well, But Retail Remains A Concern
Bengaluru: Infosys reported better growth numbers than TCS in the quarter ended September. This is the second successive quarter where it has beaten TCS, after lagging it for a long time. The company fired on all cylinders, with the flagship banking, financial services and insurance (BFSI) vertical doing particularly well. Europe as a geography to be softer. There is some impact of Brexit,” Parekh cautioned.
The company’s shares on the NYSE were down a little in morning trade after rising initially. The results were announced after markets closed here, but the stock ended Friday’s trade 4% higher at Rs 816, while TCS’ was down 0.9% at Rs1,987. Investors seem to have increased exposure to Infosys because of TCS’ tepid results.