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.