India's Infosys posts best intraday jump in a month on $1.64 bln contract win

Liberty Global

16/08/2023 05:36

** Infosys shares  INFY.NS  jump as much as 1.9%, its
steepest intraday jump since July 18
    ** Stock last up 1.3%, the most on India's IT index
 .NIFTYIT 
    ** Infosys signs 1.5 bln euros ($1.64 bln) contract with
Liberty Global  LBTYA.O 
    ** INFY last posted a bigger intraday jump on July 18, when
it gained on signing a AI, automation contract with a client
    ** Still, INFY is down 4.5% since then due to a tumble after
its FY forecast cut fueled worries of slowing demand
    ** The median price target of the 43 analysts covering INFY
is down 3.7% to 1,445 rupees over that period - Refinitiv data
    ** The stock itself is down 6.4% YTD while, in contrast, the
IT index is up 9%

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))