Mumbai: Shares in Infosys fell as much as 9 percent on concerns about the revenue outlook after Barclays cited the software service exporter's chief executive SD Shibulal as saying the company was facing challenges in some customer segments.
Barclays, in an email to clients, said Infosys management, highlighted improving customer optimism, but added Shibulal had also highlighted the challenges faced by the company in retail and Hi-Tech vertical.
"We believe that if the challenges outplay positives, the company is likely to gravitate towards lower end of FY14 guidance, implying muted Q4FY14," said Barclays.
Infosys raised revenue growth guidance for the 2013/14 financial year to between 11.5 and 12 percent from a previously forecast 9-10 percent, citing higher demand for its services.
