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Benchmark Sensex fell for the third day, dropping nearly 495 points amid foreign fund outflows. Key stocks in focus included Wipro, Infosys, and LTIMindtree. Technical Analyst Kushal Gandhi provides investment insights, recommending actions based on technical patterns and recent performance metrics.
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The guidance change is the sixth consecutive quarterly revision and seventh in eight quarters. Infosys is seeing a lot of traction in financial services, which has given us good growth last quarter and this quarter, said chief executive officer Salil Parekh. We see that continuing.
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The profitability also suffered on account of inflationary prices of coffee and cocoa. The operating profit margin corrected by 100 bps to 23.4%. Raw material cost stood at 43.6% of revenues-same as the year ago elevated level of 43.7%.
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