Bears Push Infosys Futures Bets Higher Before Earnings
Outstanding futures in Infosys Ltd. have tripled in the past year, reaching the highest level since 2008 before last week's expiration.
Bears have targeted the software maker, sending its shares down 20 percent since a peak in May, on concerns about corporate governance and worries that a stronger rupee may lead to a cut in its full-year revenue forecast, according to Jitendra Panda, managing director at Peerless Securities Ltd. in Kolkata.
“Internal conflicts and global challenges are stalling Infosys's push for an efficient reboot, and that's not a good thing,” he said.
Also Read: Murthy Questions Pay Hike To Infosys' Chief Operating Officer
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