Shares of Infosys Ltd. continued their losing streak for the sixth consecutive session on Wednesday, September 9, falling as much as 4.8% to an intraday low of ₹1,029.5. According to reports from CNBC TV18, the company has lost more than ₹40,000 crore in market capitalisation during this six-day losing streak, during which the stock has shed nearly 11% in value. The stock is trading at ₹1,030.4 on Wednesday, representing a 13% decline in the last one month and nearly 37% down on a year-to-date basis.
As reported by CNBC TV18, shares of Infosys are also the worst performers on the Nifty IT index for the first three sessions of the week so far. Other Nifty IT peers including Coforge, Tech Mahindra, Wipro, HCLTech, Mphasis, TCS, LTM and Persistent Systems have declined between 3% to 6%, in-line with the Nifty IT index, which has declined 6% for the week so far. The stock's 8.4% weekly decline is also the steepest among the IT stocks shown in the sector-performance data.
According to CNBC TV18, JPMorgan has maintained a 'Neutral' rating on Infosys with a target price of ₹1,050 per share. The brokerage said enterprises continue to seek productivity benefits, driving AI-led deflation, although deflation intensity could moderate as AI productivity gains normalise. JPMorgan said an acceleration in AI-led growth will depend on strong demand and moderating deflation, as well as a revival in discretionary spending. On demand trends, the brokerage said financial services and insurance (FS) and utilities, resources and energy (SURE) demand remains healthy, while manufacturing is strong, while telecom and retail remain soft.
As reported by CNBC TV18, according to Bloomberg analysts' data, Infosys has a consensus rating of 3.92, with 29 of the 49 analysts covering the stock recommending a Buy, 16 with a Hold rating and 4 recommending a Sell. The consensus 12-month target price is ₹1,201.18, against the last price of ₹1,035.10, implying a 16% return potential. JPMorgan also flagged rising competitive intensity in vendor-consolidation deals, although Infosys is avoiding margin-dilutive wins.
