Infosys ticks all the boxes in Q1; shares rally 10%

Brokerages have given a thumbs-up to Infosys NSE 11.74 %, after the IT bellwether ticked all the boxes on financial fronts in June quarter earnings despite supply-side constraints, with strong deal wins and free cash flow (FCF) generation. Its shares advanced nearly 10 per cent to Rs 914.55 early trade on Thursday, when the BSE benchmark Sensex was up 0.26 per cent at 36,146.

“While the Q1FY21 numbers of Infosys were significantly above Street expectations on all counts, new deal wins remained strong at $1.74 billion for the quarter. The management has guided for 0-2 per cent growth in constant currency terms for FY2021, which is a big positive,” said Jyoti Roy, DVP Equity Strategist, Angel Broking.