$500 mn deal with Google pulls Infosys in focus; analysts se

$500 mn deal with Google pulls Infosys in focus; analysts see 35% upside


A $500 million deal with search-engine giant Google has once again brought the limelight back on Infosys, strengthening the belief that large deal momentum continues to be strong for this Indian IT bellwether, which could translate into a windfall for its shareholders.
A report in the Economic Times stated that Infosys has won a $500 million deal from Google to provide customer experience and engineering support for its product. Following the development, the stock was trading up by 0.61 per cent at Rs 1,351.70 on the NSE on Thursday.
The stock, however, has lagged benchmark Nifty on a year-to-date basis as it added 7 per cent against a 9 per cent rise in the Nifty50. The underperformance could soon come to an end, believe analysts, who eye an up to 35 per cent upside in the stock from current levels.

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