UBS believes that the weakness in the rupee creates an opportunity to accelerate investments.
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Global research firm UBS is upbeat on Infosys and has maintained its buy call on the stock. It raised the target price to Rs 865 from Rs 737 and it sees a potential upside of 18 percent.
The stock touched an intraday high of Rs 744.15 and an intraday low of Rs 734.00.
UBS believes that the weakness in the rupee creates an opportunity to accelerate investments.
While attrition remains a challenge for the firm, the key for Infosys remains in retaining its senior management.
The firm has also upgraded estimates and target price to reflect recent currency moves.
The stock has gained seven percent in the past one month, while in the past three days, it rose 2 percent. At 12:20 hrs Infosys was quoting at Rs 740.50, up Rs 8.55, or 1.17 percent, on the BSE.First Published on Sep 11, 2018 12:30 pm