Infosys Soars Over 4% As Analysts Upgrade Stock To 'buy' After Nilekani Rejoins Board

Infosys shares rallied as much as 4.5 percent in early trade Monday as analysts upgraded the stock after co-founder Nandan Nilekani joined the company again as non-executive chairman.

CLSA upgraded the IT bellwether to buy from underperform and raised target price to Rs 1,070 from Rs 940, saying Nilekani's return gave the company the best start in 6 years to regain leadership stability.

The research house also upgraded margin assumptions by 70 basis points for FY19-20, which resulted in 7 percent EPS raise & higher target multiple of 15.5x. Better balance of margin & growth drove margin upgrades, it said.

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