Infosys gets a thumbs up from the Street; stock ends at record high

Topics Infosys

Infosys campus
Shares of Infosys rose 7.2 per cent to end at Rs 780, an all-time high, after the firm raised revenue growth forecast for FY20. 

Most analysts have raised their 12-month price target for the stock, hoping for increased payouts to shareholders. Analysts, however, say rising employee attrition remains a key risks, given the strong demand. Citibank said the valuation gap between Infosys and TCS would narrow further. 

CLSA said Infosys would be one of the fastest-growing IT firms this financial year and has the potential to deliver “upside surprises” next year. 

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