Infosys Ltd. share price fell 5% as the company raised its revenue guidance for a third consecutive time following an in-line third-quarter profit growth. Analysts also shared bullish calls on the stock.
The technology giant upped its revenue forecast in constant-currency terms for the financial year ending March 2025 to 4.5–5.0% from its earlier projection of 3.75–4.5%.
The guidance upgrade signifies improving macro and business fundamentals. Infosys will benefit disproportionately in fiscal 2026-27 from a revival in discretionary spends, Nuvama Institutional Equities said in a note. “We view the stock as one of the best ways to play the revival in the IT sector over the next few years.”
Nomura Global Markets Research also believes that Infosys is one of the best ways to play a potential improvement in discretionary demand in IT services. “Strong deal pipeline and improving discretionary demand across multiple verticals is positive.”
Infosys share price tanked over 5% to Rs 1,831 apiece soon after market open. The benchmark NSE Nifty 50 was down 0.55%.
The stock has risen 17.6% in the last 12 months. The total traded volume so far in the day stood at 6.9 times its 30-day average. The relative strength index was at 36.
Thirty-two out of the 47 analysts tracking Infosys have a ‘buy’ rating on the stock, 10 recommend a ‘hold’ and five suggest a ‘sell’, according to Bloomberg data. The average of 12-month analyst price target of Rs 2,110 implies a potential upside of 9.4%.
. Read more on Markets by NDTV Profit.Infosys share price tanked over 5% to Rs 1,831 apiece soon after market open. Read MoreMarkets, Buzzing Stocks, Business, Notifications
NDTV Profit
