Infosys loses multi-billion deal; issues statement to BSE

Indian IT giant Infosys announces termination of 1.5 billion contract with a global company in a corporate filing on BSE. The global company terminated the Memorandum of Understanding (MoU) and will not pursue the Master Agreement. The deal loss comes at a time of global uncertainties and macro headwinds, with the UK economy already in contraction and at risk of a recession.