Shares of Infosys fell nearly 1% in early trade on Wednesday despite reporting a strong set of numbers for the June quarter. As of 9:19 AM, the stock was trading at ₹1,559.70, down ₹14.80 or 0.94%, after opening at ₹1,580 and hitting a high of ₹1,582 and low of ₹1,558.20 on the NSE.
Infosys reported a year-on-year revenue growth of 7.5% to ₹4,227 crore in constant currency terms, while PAT rose to ₹6,924 crore from ₹6,374 crore in Q1FY25. EBIT margin came in at 20.8%, better than analyst expectations. The company raised the lower end of its FY26 constant currency revenue guidance to 1–3%, from 0–3% earlier.
Brokerages remained upbeat on the stock, highlighting the robust execution, better-than-expected margins, and attractive valuation:
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Nomura maintained its Buy rating with a target price of ₹1,880, calling Infosys its top pick. While it trimmed EPS estimates by 1% for FY26–28, it said Q1 was a clear beat and expects Project Maximus to support margin progression.
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Morgan Stanley retained its Overweight stance with a target of ₹1,700, noting Infosys’ balanced performance compared to peers and strong EBIT growth potential among large IT companies.
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CLSA reiterated its Outperform call with a TP of ₹1,861, stating the company “ticked all the right boxes” in Q1. CLSA expects revenue momentum to continue, supported by an improving demand environment.
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Bernstein also remained Outperform, with a TP of ₹1,820, highlighting Infosys as the growth leader among largecap peers and the best positioned in Gen AI. Large deal TCV stood strong at $3.8 billion.
Despite the positive sentiment, the stock came under pressure amid broader market volatility and possible profit booking post-results. The counter has a 52-week range of ₹1,307–₹2,006.45.
Disclaimer: The views expressed by brokerages are their own and not a recommendation by this publication. Please consult a financial advisor before making investment decisions.
