$500 mn deal with Google pulls Infosys in focus; analysts see 35% upside

Even after a 164 per cent rally since its 52-week lows hit in March 2020, the Salil Parekh-led firm remains Credit Suisse top pick in the IT space

A $500 million deal with search-engine giant Google has once again brought the limelight back on Infosys, strengthening the belief that large deal momentum continues to be strong for this Indian IT bellwether, which could translate into a windfall for its shareholders.

A report in the Economic Times stated that Infosys has won a $500 million deal from Google to provide customer experience and engineering support for its product. Following the development, the stock was trading up by 0.61 per cent at Rs 1,351.70 on the NSE on Thursday.

The stock, however, has lagged benchmark Nifty on a year-to-date basis