Infosys Ltd. shares rose during early trade on Monday after the stock witnessed its worst weekly sell-off in six years. The scrip gained 2% to Rs 1,178 on the NSE, compared to a 0.9% rise in the benchmark Nifty 50. The Nifty IT index was also up 2%.
Shares have faced pressure on account of its weak Q4 earnings and FY27 guidance announced last week and the subsequent target price cuts from a slew of brokerages, including the likes of Kotak Securities, Jefferies and Citi.
Most brokerages have highlighted subdued growth and weak guidance. The investor sentiment was further impacted by the company's refusal to share AI-revenue numbers, even as the management reiterated strong growth in the segment.
The stock shed over 12% last week.
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The total traded volume on Monday stood at 1.8 times the 30-day average. The relative strength index was near 60, seen to be in the neutral zone.
Of the 50 analysts tracking Infosys, 36 have a 'buy' rating on the stock, 12 recommend a 'hold' and two suggest 'sell', according to Bloomberg data. The average of analysts' 12-month target price implies an upside potential of 26%.
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