Infosys Ltd. experienced a decline in its share price on Tuesday after the stock went ex-dividend. The IT giant announced an interim dividend of Rs 21 per equity share, with the record date set for October 29 and the payment date scheduled for November 8. This dividend payout will benefit over 2.5 million shareholders, totaling Rs 8,719 crore, marking the first interim dividend of the financial year 2024-25.
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In the second quarter of the current financial year, Infosys reported a sequential revenue growth of 4.3%, amounting to Rs 40,986 crore for the three months ending September. This growth reflects the company’s continued recovery in the competitive IT landscape.
The Bengaluru-based firm recorded a net profit of Rs 6,506 crore, indicating a modest increase of 2.2% for the same quarter. This steady performance showcases the company’s resilience amid market fluctuations.
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As a result of the ex-dividend announcement, Infosys shares fell by as much as 1.65%, trading at Rs 1,834.6 per share. By 9:36 am, the stock was down 1% at Rs 1,846, while the benchmark NSE Nifty index decreased by 0.45%.
Despite this dip, Infosys’ share price has shown strong performance over the past year, rising 24% and 20% year-to-date. Currently, the relative strength index stands at 37, indicating a potentially oversold condition.