Infosys rises on bargain hunting

Infosys gained 1.14% to Rs 1,440.50, amid some bit of value buying.

The stock had declined nearly 6% in two sessions to end at Rs 1,424.20 yesterday, from its recent closing high of Rs 1,514.60 recorded on 9 June 2022.

In the past one month, the stock has declined 4.36% while the benchmark Sensex has lost 0.69% during the same period.

On the technical front, the stock's daily RSI (relative strength index) stood at 40.869. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

On the daily chart, the stock is trading below its 50-day, 100-day and 200 day simple moving average (SMA) placed at 1571.89, 1676.93 and 1714.82 respectively.

Meanwhile, Infosys announced today that it has collaborated with Harvard Business Publishing to provide digital and life skills to India's next generation through Infosys Springboard, with critical digital and life skills made available free of cost. This is part of the continued efforts Infosys is making to empower 10 million plus people with digital skills by 2025 - a goal integral to Infosys' ESG Vision 2030.

Harvard Business Publishing is a not-for-profit, wholly owned subsidiary of Harvard University and an affiliate of Harvard Business School.

Infosys is a global leader in digital services and consulting. Its consolidated net profit fell 2.1% to Rs 5,686 crore on a 1.3% increase in revenues to Rs 32,276 crore in Q4 FY22 over Q3 FY22.

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