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Infosys drops most since Covid crash after weak growth guidance. Should you buy, sell or hold?
₹1,231.80 apiece, the most intraday since March 2020, in Monday's trade after the IT services firm's guidance painted a negative outlook for India’s technology sector following turmoil at US and European banks. The stock has grown by 2.5 times over the past five years from ₹564 in April 2018 to ₹1,388 levels in April 2023. Post its March quarter results, Infosys' shares have an average price target of ₹1,540, which suggests a 25 per cent potential upside on the counter.