Infosys After Columbia University Collaboration

Infosys Limited

closed at ₹994.10 on September 30, 2026, down 2.1% and close to its 52-week low of about ₹980. The company will announce Q2 FY27 results on October 23, with the board also considering an interim dividend. What happened Infosys has fallen from ₹1,015.40 to ₹994.10 and is down about 31% over one year. In Q1 FY27, revenue was $5,082 million, up 1.0% sequentially in constant currency, while operating margin was 21.1%. Large deal wins stood at $3.6 billion, with 61% net new. FY27 revenue guidance was narrowed to 1.5%-3.0% in constant currency, while margin guidance remained at 20%-22%. My view The fall does not yet point to an earnings breakdown. Margins remain within guidance and cash conversion has been strong. The bigger issue is dollar revenue growth. Q1 revenue of $5.082 billion was almost flat against the comparable period, while management has already reduced the upper end of FY27 guidance. For me, Q2's sequential constant-currency growth is the key number. If growth stays around 1%, the guidance looks achievable. If it falls below 0.5%, concerns about slower growth become harder to ignore. Large-deal conversion is the second metric I would track. The valuation also matters. At around 13 times trailing earnings, with roughly ₹48 of dividends over the last year, the stock already reflects significant pessimism. The risk is that AI-led automation puts additional pressure on pricing and discretionary technology spending. **What I am watching** Q2 constant-currency growth, FY27 guidance, operating margin, large-deal conversion and the interim dividend. Key levels are ₹980 support and ₹1,015 resistance. Call Cautious, wait for confirmation. A break below ₹980 would weaken the setup further. A Q2 print with sequential growth around 1%, margin at 21% or above and guidance maintained would improve the setup.