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Infosys Technologies Opens Softer After Outlook

Financial News Network
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March 04, 2011 AT 3:28 PM
Infosys Technologies Ltd. (INFY) is just lower shortly after the open after issuing its outlook. Its back-office arm forecast its revenue will rise 18%-20% in the next fiscal year, driven by the banking and financial services sector. It also expects operating margins of 20% to 22% in fiscal 2012, which starts in April. Infosys is India's second largest software firm. It plans to hire a gross 8,000 staff in the next fiscal year.