Preview: India's Infosys gains ahead of results; brokerages see modest growth amid weak demand

Infosys

23/10/2026 05:48

** Shares of Infosys INFY.NS up 2.3% at 1,179.70 rupees ahead of quarterly results expected later in the day
** Kotak forecasts 1.1% organic constant currency revenue growth, citing AI-led deflation and weak demand
** Brokerage expects FY27 revenue guidance cut to 1.5%-2% from 1.5%-3%
** PhillipCapital expects 1.6% Q/Q revenue growth in constant currency
** Unlikely to see typical Q2 volume uptick due to deferred client spending, AI deflation and weak small-deal activity - PhillipCapital
** Brokerage expects EBIT margin guidance to be maintained at 20-22%
** Says key investor concerns are guidance on Q3, deal wins to revenue conversion and margins outlook
** Stock rated as "Buy" on average by 42 analysts; median price target at 1,165 rupees -- LSEG-compiled data
** YTD, stock down ~27%
($1 = 94.7900 Indian rupees)

 (Reporting by Mridula Kumar in Bengaluru)
 ((Mridula.Kumar@thomsonreuters.com;))