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Pity those investors who have given Infosys the benefit of the doubt over the last couple of years. Shares in India’s second-largest IT outsourcer fell by the most in 10 years on Friday. The one-fifth fall came after the company announced that it had missed its revenue guidance for its end-March full year. It followed that up with a weak and vague guidance for this year. The hope was that some of the recovery seen in the outsourcer’s third-quarter would continue. But earnings before interest, tax, depreciation and amortisation fell 5 per cent year-on-year in the past three months.

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