Nomura has reiterated its buy rating on Infosys with a target price of ₹1,720 per share after the company delivered a marginal beat in Q2FY26 and raised the lower end of its full-year revenue growth guidance. The brokerage said Infosys’ performance was marked by stable margins, solid deal wins, and management confidence in near-term demand recovery.
For Q2FY26, Infosys reported consolidated revenue of ₹44,490 crore, up 8.5% year-on-year, while net profit rose 13% to ₹7,364 crore. The company also declared an interim dividend of ₹23 per share. Infosys increased the bottom end of its FY26 revenue growth guidance to 2–3% in constant currency, reflecting resilience amid a challenging macro environment.
Nomura expects margins to remain stable around 21% for FY26, supported by internal cost optimisation, INR depreciation benefits, and early productivity gains from AI-led initiatives. The brokerage said Infosys remains well-positioned to benefit from an eventual rebound in global IT spending, with the stock currently trading at about 19.8x FY27F EPS.
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