Shares of Infosys closed above the mark of Rs 1,500 for the first time since February 27 this year. The stock currently trades around those levels.

With shares at a seven-month high, brokerage firm Bernstein has highlighted Infosys as their top pick among the IT services providers.

Infosys shares are now just 1.7 percent away from turning positive for 2023. The stock is still the only one on the Nifty IT index that has negative returns for the year so far.

Bernstein in its note wrote that the investor focus has shifted from financial year 2024 to financial year 2025 and that selective largecap IT stocks like Infosys and TCS look better positioned than their midcap peers going into financial year 2025.

Shares of TCS also hit a 52-week high earlier this week.

Bernstein mentioned that stocks like Infosys and TCS are consistently demonstrating the rare combination of good growth and strong margins compared to their other midcap peers.

The brokerage mentioned that it continues to prefer largecap IT stocks over midcaps with Infosys as its top pick.

Out of the 45 analysts that track Infosys, 18 have a buy recommendation, 16 say hold, while 11 have a sell rating.

Shares of Infosys ended little changed on Wednesday at Rs 1,498. The stock is flat over the last 12 months.

First Published: Sept 14, 2023 8:57 AM IST