Infosys shares top Nifty 50 gainers with best single-day gain in three years

"I think about a month back, that was the first indication that there we anticipating some sort of a build-up in order values, new contracts or the executions could kind of ramp up. So that I think is again an endorsement or a validation of that view, which is something which probably seems more positive. So the market would probably like that and start believing that things could improve for Infosys from here on," Prakash Diwan, market expert said.

Most analysts on the street who track Infosys maintained their respective stance on the stock and also said that the focus has now shifted to financial year 2025.

Goldman Sachs in its note wrote that it is forcasting for Infosys to report 10% revenue growth year-on-year in financial year 2025. It maintained its "Buy" rating on the stock with a price target of ₹1,770.

Out of the 45 analysts that track Infosys, 25 of them have a "buy" rating, 12 say "hold," while eight have a "sell" recommendation.

Post this surge, the Relative Strength Index (RSI) on Infosys' charts is at 57. A reading above 70 means that the stock is in "overbought" territory.

Shares of Infosys are now up 6% at ₹1,585.60. The stock is contributing 80 points to the Nifty upside of close to 90 points.