Infosys: I Still Can't Find A Reason To Buy

Infosys Limited continues to underperform major benchmarks, including U.S. stocks, India, and global tech indices. Despite a strong balance sheet, healthy margins, and reliable cash generation, INFY has struggled with persistent lowered expectations over the past five years. My prior Hold rating reflected INFY's survivability and potential for turnaround, rather than imminent decline. With Q1 2027 results now available, I reassess whether INFY's narrative shows signs of meaningful change.

Infosys Limited (INFY), one of India's largest IT services companies, makes its living helping global enterprises navigate the ever-changing world of digital transformation, cloud computing, and AI. I've covered INFY several times over the past five years.