Infosys fell 1.1 percent to Rs 2,448.90 after gaining 7 percent over the previous four sessions given concerns that hopes for more Fed monetary stimulus may have been overdone.
The software services exporter was also hit after Bank of America-Merrill Lynch warned of seeing no pick-up discretionary IT spending from the financial services sector, which makes up a good chunk of its revenues and demand from financial services "remains challenged" in the near-term.
BofA-ML added that organisational and leadership transition challenges for Infosys also continue, while a deferred wage hike posed employee retention risk.
The investment bank retained the stock at "neutral" with a target price of Rs 2,450.
Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.
Updated Date: Dec 20, 2014 19:30:22 IST