Infosys shares plunged 2.6 per cent on Tuesday after it was revealed that an unnamed global company is set to terminate a 15-year deal worth $1.5 billion with the IT services firm.
The deal signed in September 2023 focused on utilizing the company's platforms and artificial intelligence solutions to improve digital experiences and provide business operation services.
Two weeks ago, former Infosys CFO Nilanjan Roy had resigned. The contract termination comes in the backdrop of global uncertainties in the IT sector.
Infosys board of directors are set to meet on January 10 following which the IT giant will release the financial results of the third quarter of the current fiscal year. In the second quarter, Infosys registered a 3 per cent year-on-year rise in net profit.
