Nomura picks Infosys as top IT bet, sees FY26 guidance hike positive despite Q3 PAT decline
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Global brokerage firm Nomura has reiterated its bullish stance on Infosys, maintaining a ‘Buy’ rating on the stock with a target price of Rs 1,810, continuing to rank the stock as its top pick in the large-cap Indian IT services space, despite the IT major reporting a year-on-year decline in its consolidated net profit for the December quarter. Infosys posted a 2% YoY dip in its Q3FY26 net profit at Rs 6,654 crore, compared with Rs 6,806 crore in the same quarter last year. However, revenue from operations rose 9% YoY to Rs 45,479 crore. In dollar terms, the company reported revenue of USD 5,099 million, marking a 0.6% sequential increase and a 1.7% rise in constant currency terms, slightly ahead of consensus estimates. According to Nomura, Infosys delivered a revenue beat in Q3FY26, although it witnessed a modest miss on margins. The adjusted EBIT margin stood at 21.2%, up 20 basis points quarter-on-quarter, but 10 bps below consensus. M...