Infosys hits record high in subdued market, up 11% in 7 days post Q1 nos

Infosys shares hit an all-time high of Rs 804 apiece, up 2 per cent, in intra-day trade on the BSE on Tuesday in an otherwise subdued market. The stock surpassed its previous high of Rs 799 touched on July 18, and crossed the share buyback price of Rs 800 per share.

In the past seven trading days, the stock has outpaced the market by surging 11 per cent on upward revision of the revenue guidance in constant currency terms for the financial year 2019-20 (FY20) to 8.5-10 per cent from 7.5-9.5 per cent as guided earlier. In comparison, the S&P BSE Sensex was down 2 per cent during the same period.

While announcing the June quarter results, the information technology (IT) company said that with effect from the current financial year,