Motilal Oswal maintains buy on Infosys, target price Rs 870

Motilal Oswal has maintained a ‘Buy’ rating on Infosys with a target price of Rs 870 per share. The brokerage said Infosys continued to show strength in large deal wins despite a cautious environment. Further, the internal probe by Infosys on whistleblower letter has given clean chit to the company improving the sentiment around the stock. The brokerage also expects slight rerating in the stock as the stock’s discount compared to its peer TCS is expected to come back to the normal levels. Shares of Infosys closed at Rs 772, up 4.6% on Monday.