Infosys Share Price Movements: A Detailed Overview
On July 18, 2024, Infosys’ stock experienced a notable increase of 1.93%, closing at ₹1759.15 compared to the previous day’s closing price of ₹1725.8. This marked a significant rise, reflecting positive investor sentiment towards the company. Earlier in the day, Infosys’ stock opened at ₹1713.2 and saw a fluctuation within the range of ₹1699.3 to ₹1737.5, finally closing at ₹1707.2. The market capitalization of Infosys stood at ₹714,615.64 crore. Notably, the stock’s 52-week high was recorded at ₹1728.1, and its low at ₹1304.24. The trading volume on the BSE was 265,172 shares.
Shareholding data as of the March quarter revealed that mutual funds (MF) held 15.35% of Infosys, up from 14.77% in December. Foreign institutional investors (FII) held 34.10%, up from 33.69% in December. This increase in institutional holdings underscores the growing confidence in Infosys’ future prospects among major investors.
In terms of return metrics, Infosys achieved a return on equity (ROE) of 32.08% in the most recent fiscal year, with a return on investment (ROI) of 28.39%. Analyst consensus estimates predict an ROE of 28.94% for the current fiscal year and 30.18% for the next. Over the past three years, Infosys has shown an earnings per share (EPS) growth of 11.61% and a revenue growth of 15.22%. In the last twelve months, Infosys recorded a revenue of ₹1,536,700 crore, slightly exceeding the revenue of the most recent fiscal year. The company is expected to see a revenue growth of 2.59% and a profit growth of 5.18% in the first quarter.
Analysts currently rate Infosys as a “Buy,” with a median price target of ₹1630.0, which is 7.34% lower than the current market price. The lowest target price among analyst estimates is ₹1160.0, while the highest is ₹1950.0. These estimates are for the next year. The recommendation trends have been stable, with 12 analysts recommending “Strong Buy,” 17 recommending “Buy,” 8 recommending “Hold,” 4 recommending “Sell,” and 1 recommending “Strong Sell.”
Infosys’ performance aligns with positive trends observed among its industry peers, including Tata Consultancy Services, HCL Technologies, LTI Mindtree, and Tech Mahindra. The benchmark indices Nifty and Sensex also showed gains of 0.76% and 0.78%, respectively. Specifically, Tata Consultancy Services saw a 3.33% increase, closing at ₹4314.3, while Infosys increased by 1.93% to ₹1759.15. HCL Technologies rose by 1.54% to ₹1593.9, LTI Mindtree surged by 3.46% to ₹5754.05, and Tech Mahindra increased by 1.6% to ₹1540.1.
During the day, Infosys’ stock price fluctuated between a low of ₹1720.75 and a high of ₹1764.95. Futures trading for Infosys also showed a positive trend, with futures prices rising by 2.15% and open interest increasing by 5.35%, indicating potential for further positive price movement. Traders are advised to maintain their long positions.
As the trading session concluded, key resistance levels for Infosys’ stock were identified at ₹1776.93, ₹1794.37, and ₹1823.33, while support levels were noted at ₹1730.53, ₹1701.57, and ₹1684.13. These support and resistance levels are derived from classic pivot table analysis. The volume of Infosys shares traded until 3 PM increased by 61.27% compared to the previous day, reflecting heightened trading activity and investor interest.
In summary, Infosys’ stock showed a strong performance on July 18, 2024, driven by positive investor sentiment, increased institutional holdings, robust return metrics, and favorable analyst ratings. The company’s financial performance and positive trends among its industry peers further underscore its potential for continued growth. Investors are advised to monitor Infosys closely in the coming days and weeks to gauge how it reacts to market developments and news.