Shares of Infosys Ltd. surged 5.14% to trade at Rs 1,674.80 apiece on Friday. This compares with Thursday's closing price of Rs 1,599.80 apiece. The surge in the share price comes on the back of multiple brokerages raising their targets for the stock after the company announced its Q3 results.
The IT services major on Wednesday reported a 2.2 % decline in its consolidated net profit to Rs 6,654 crore in the October-December quarter of FY26. The Bengaluru-headquartered firm had registered a net profit of Rs 6,806 crore in the year-ago period. However, Infosys' revenue from operations grew 8.89% to Rs 45,479 crore compared to Rs 41,764 crore in Q3 FY25.
On the quarter-on-quarter basis (Q2 FY26), its profit fell 9.6%, while revenue increased 2.2%.
Brokerages mixed on the numbers
Morgan Stanley stays cautious with an 'Equal-weight' rating but turns more constructive citing high-quality Q3 earnings beat. It lifted its target to Rs 1,760. The brokerage also reads the higher guidance and stronger hiring trends as a signal that Infosys is aiming to exit the year with better momentum.
Jefferies remains firmly positive, reiterating a 'Buy' and nudging its target up to Rs 1,880. Still, Jefferies added a note of caution that the guidance upgrade looks driven more by the Q3 beat than by a clearly stronger Q4, given the implied tight Q4 range.
Citi, meanwhile, maintained a 'Neutral' stance and raised its target to Rs 1,700, calling the quarter and deal trends decent but not enough to change its measured view.
Bank of America reiterated a 'Buy' and increased its target to Rs 1,840, sounding more confident on a recovery in discretionary spending in pockets. BofA also highlighted Infosys' emphasis on six AI-led opportunity areas, and expects margins to remain broadly stable going ahead.
Infosys Share Price Today
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The scrip rose as much as 5.14% to Rs 1,674.80 apiece during the day. This compares to a 0.29% growth in the NSE Nifty 50 Index.
Total traded volume so far in the day stood at 7.00 times its 30-day average. The relative strength index was at 32.98
Out of 51 analysts tracking the company, 36 maintain a 'buy' rating, 13 maintain a "hold" and two maintain a "sell" rating, according to Bloomberg data. The average 12-month consensus price target of Rs 1,811.19 implies an upside of 11.3%.
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