Infosys Share Price hit 52 week fresh high after strong performance in Q1 results. Check what target has been set by brokerages on IT giants stock.

Shares of India’s second-largest IT firm, Infosys, jumped nearly 5 per cent to hit a fresh 52-week high of ₹1,843 in early trade on BSE on Friday, July 19, a day after the company reported a better-than-expected April-June quarter (Q1FY25) scorecard. 

Infosys share price jumped by around 5% to hit a fresh 52-week high after Q1 results report. Infosys on Thursday reported a 7 per cent rise in consolidated net profit at Rs 6,368 crore in the April-June quarter and raised its growth outlook for the current financial year, signalling an improvement in the IT segment.

With improvement in business, Infosys has shared plans to hire 15,000-20,000 freshers depending on the growth during the year. The company has been reporting continuous decline in headcount since March 2023 quarter.

In the year-ago period, the company clocked a profit of Rs 5,945 crore, according to a BSE filing. Sequentially, the net profit in April-June fell 20 per cent from Rs 7,969 crore in the preceding January-March quarter.

The consolidated revenue of Infosys increased by 3.6 per cent to Rs 39,315 crore during the reported quarter from Rs 37,933 crore a year ago. For the current fiscal year, the company raised its revenue growth guidance to 3-4 per cent in constant currency terms from 1-3 per cent projected earlier.

Infosys Share Price Target After Q1FY25 Results

Bernstein maintained Outperform rating and rose share price target to Rs 2,100 from Rs 1,650

Citi maintained Neutral rating and hiked share price target to Rs 1,850 from Rs 1,550.

Global brokerage Jefferies while maintaining buy on the stock has raised the target from Rs 1,630 to Rs 2,040.

Infosys Share Price Performance Today

Infosys share price opened at ₹1,842.05 against its previous close of ₹1,759.15 and rose 4.8 per cent to touch its 52-week high of ₹1,843. Around 9:20 am, the stock traded 3.52 per cent higher at ₹1,821 apiece.

(Disclaimer: The information provided in this article is for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.)