Indian software maker Infosys shares dive sharply

BOMBAY, April 15 (AFP) Shares of India's second largest software exporter, Infosys, tumbled 6.14 percent Friday as investors dumped the stock after the company said its June quarter earnings would be flat, dealers said. Infosys fell 129.15 rupees to 1,973.15 in morning trade, dragging down other technology stocks and the Bombay Stock Exchange's 30-share Sensex which shed 177.40 points or 2.74 percent to 6,290.52.

Heavy losses in US tech stocks on Wall Street overnight may also have contributed to the overall downturn. "Investors are selling Infosys after the poor earnings guidance the company gave for the current quarter," said Anish Marfatia, vice president at Parag Parekh Securities.

Infosys reported Thursday year to March 2005 net profit jumped 52 percent to 18.9 billion rupees (432 million dollars) as more companies from abroad outsourced work to Indian technology companies.