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Friday, 22 December 2017

Infosys share price hits over 1-year high; on joining HPE-Cloud28+community's vast network

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Shares of IT major Infosys Limited rose 2.23% to Rs 1,044.80 on Friday, its highest since October 20, 2016. The stock broke above a resistance at Rs 1,020, the 38.2% Fibonacci retracement level of the downtrend from June 3, 2016, high of Rs 1,279.3 to August 22, 2017 low of Rs 860.

Infosys has joined Hewlett Packard Enterprise (HPE)-driven Cloud28 plus community & digital platform. By leveraging the Cloud28+community's vast network of service providers, Skava (the wholly-owned subsidiary of Infosys) aims to expand its market presence in countries where business and regulatory considerations call for private & hybrid cloud deployments working with local partners.

Some analysts have turned bullish on the stock in the last one month, with ‘strong buy’ recommendations rising by two to 11 and ‘buy’ ratings by one to 11. The stock has 17 ‘hold’ recommendations, seven ‘sell’ and one ‘strong sell’.

Infosys is a global leader in technology services and consulting. The company enables clients in 45 countries to create and execute strategies for their digital transformation.


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