The stock had underperformed the market in last week, by falling 3.6% after the company’s chief financial officer (CFO) M. D. Ranganath decided to leave the company. In comparison, the S&P BSE Sensex was up 0.8% till Friday. The scrip touched an all-time high of Rs 1,437 on August 17, 2018 on the BSE in intra-day trade.
The brokerage firm Motilal Oswal Securities has ‘maintained buy’ rating on the stock with a target price of Rs 1,600 per share.
Also Read: Ranganath's exit from Infosys can puncture stock's momentum, say analysts
"Infosys’s stock rallied 38% CYTD and 26% FTYD, leaving little room to absorb more instability. Hence, we expect the stock to lose some of the built-up steam in the near future," the brokerage firm said in a note.