Some brokerages cut target price on Infosys

Some brokerages have trimmed their target price on Infosys NSE -3.07 % after the information technology major’s June quarter profit fell short of analysts’ estimates. Shares of Infosys ended down 0.23% at ₹1,502.85 on Monday.

Prabhudas Lilladher has trimmed the target price to ₹1,630 from ₹1,646, IDBI Capital has downgraded the stock to ‘hold’ from a ‘buy’ with a revised target price of ₹1,510, and Antique Stock Broking has lowered the target price to ₹2,050 from ₹2,100. ICICI Securities NSE -0.13 % has lowered target price to ₹1,434 from ₹1,464.