Infosys share price: Large-cap IT stock Infosys is a great illustration of the power of long-term investing. A modest ₹1 lakh investment at Infosys’ listing in June 1993, when the shares were priced at ₹145 would have turned to ₹16.7 crore today.
The IT stock was listed at ₹145, which means a ₹1 lakh investment would have fetched around 689 shares at the time. What unfolded over the next three decades was not driven by sharp trading gains but by the steady compounding effect of bonuses, stock splits and strong business models. Infosys issued 1:1 bonus shares in 1994, 1997 and 1999, followed by a stock split in 2000, when the face value was split from ₹10 to ₹5. This was followed by a 3:1 bonus issue in 2004, and additional 1:1 bonus issues in 2006, 2014, 2015 and 2018.
After adjusting for all these corporate actions, each original Infosys share multiplied into about 176 shares. As a result, the initial holding of 689 shares would have grown to roughly 1,21,264 shares today. At the latest closing price of ₹1,373.70, the investment would now be worth around ₹16.7 crore.
AI-concerns: Why Infosys is under pressure
Despite its storied past, Infosys is currently grappling with sharp market volatility. The stock is down 31% from its all-time high of ₹2,006, hit in December 2020. Over the past one year, the share price has declined 26%, while the fall has deepened to 19% over the last one month. In February alone, Infosys has lost over 16%, reflecting broader concerns around the Indian IT sector.
In today’s deals, the stock has gained 2% to its day’s high of ₹1401.85 on BSE.
These worries dominated discussions even as Infosys hosted its AI Day 2026, where management laid out its AI-first strategy for the next technology cycle.
It also announced a strategic collaboration with Anthropic to develop and deliver advanced enterprise AI solutions to companies across telecommunications, financial services, manufacturing, and software development.
In its AI Day 2026, the company acknowledged that this AI transition is fundamentally different from past tech shifts with innovation advancing faster than enterprise adoption, creating a deployment gap. It estimated the AI services opportunity at $300–400 billion by 2030.
Infosys also outlined six AI value pillars, including AI strategy and engineering, data readiness, process AI, agentic legacy modernisation, physical AI and AI trust, supported by its Topaz platform ecosystem. Talent transformation and large-scale reskilling were positioned as central to execution, with management stressing that enterprise AI adoption requires deep structural changes rather than superficial technology upgrades.
Yet, market sentiment remains cautious, driven by fears that AI-led efficiency gains could compress revenues before demand fully scales.
What brokerages are saying – Next targets?
Even as Infosys shares remain under pressure amid a broader sell-off in Indian IT stocks, brokerage houses are largely holding their ground on valuations.
Axis Securities maintained a Buy rating on Infosys with a target price of ₹1,820, implying 32.5% upside from previous close. The brokerage said Infosys’ AI Investor Day helped clarify management’s long-term strategy, particularly its view that enterprise AI adoption is structurally complex and unlikely to displace services revenue overnight. Axis added that AI-led programs remain a relatively small portion of revenue but provide improving visibility beyond FY26.
“Infosys highlighted that AI is currently the fastest tech innovation to reach 1 Bn users and emphasised that enterprise AI transformation requires a fundamental ‘root and branch surgery’ rather than a simple ‘lift and shift’ approach. As of Dec’25, AI programs accounted for 5.5% of the total revenue.”
Between Axis Securities and other brokerages, the common assessment is that the current environment reflects stability rather than acceleration.
Motilal Oswal Financial Services also retained a Buy rating, assigning a target price of ₹1,850, which implies an upside of about 35%. The brokerage cautioned that near-term multiple re-rating could remain constrained as investors debate the long-term impact of AI-led productivity gains on terminal growth assumptions.
“We see limited evidence for earnings cuts and believe cyclical recovery in core businesses is underway. However, concerns around terminal value and AI-led disruption may restrict near-term multiple re-rating.”
Meanwhile, Nuvama Institutional Equities took a more forceful stance on the recent correction, calling it overdone, and reiterated its Buy rating with a target price of ₹1,900 (38% upside). The brokerage argued that fears around GenAI disrupting the IT services model have been overstated, and that while productivity gains could pressure revenues initially, the long-term benefits would accrue as enterprises scale AI adoption.
“The recent sharp correction in IT stocks was overdone, as fears of disruption from GenAI have been highly exaggerated. Revenue compression due to AI-driven productivity will be front-loaded, while the benefits will accrue over the medium term.”
Taken together, brokerage commentary suggests that Infosys is navigating a transition phase rather than a structural decline.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
About The Author
