Infosys is now probably on the downfall and while making this statement we are not seeing its quarterly forecasts but are seeing the attrition rate in Infosys which has been revealed by a highly;y reliable source of information.
An Economic Times report suggests that close to 8,000 employees left Infosys in the past three months mainly due to wage-hike issues. The attrition rate stands at 14.9 per cent and this astonishing as industry facing a slowdown typically records low attrition figures. This is alarming as numbers are more than three times than industry average.
So for the time being we should avoid Infosys and one wonders why LIC is increasing its exposure to this company by investing more than 2000 Crores when whole world is dumping it.