Shares of India's No.2 IT company Infosys fell nearly 6% on Friday despite beating third-quarter result estimates, as analysts raised concerns about the quality of earnings. Infosys dragged the IT sector down by 2.

Infosys shares fell nearly 6% on Friday, marking their largest one-day decline since July 2023. The drop followed concerns raised by analysts over the quality of earnings in its third-quarter report.

Infosys shares fell nearly 5% after its Q3 results showed an 11% YoY net profit growth, reaching Rs 6,806 crore, and revenue increasing 8% YoY to Rs 41,764 crore. Despite revising its revenue guidance upwards,