The stock fell as much as 2.55% to Rs 1,523 each, but later reduced losses to trade 1.84% lower. Despite this, the stock has risen 10.15% year-to-date. Out of 37 analysts tracking the company, 21 maintain a 'buy' rating, 16 recommend a 'hold,' and eight suggest 'sell,' according to Bloomberg data. The average of 12-month analyst price targets implies a downside of 1.2%.
Key takeaways:
- Shares of Infosys Ltd. fell after a global client terminated a $1.5-billion AI contract that was signed in September.
- The companies decided not to proceed with the "master agreement", as stated by Infosys in an exchange filing.
- The stock of Infosys fell as much as 2.55% to Rs 1,523 apiece, but later pared losses to trade 1.84% lower.
- Despite the contract termination, of the 37 analysts tracking the company, 21 maintain a 'buy' rating, 16 recommend a 'hold,' and eight suggest 'sell.'