Infosys Share Price Today, 8 December 2025: Q2 FY26 Results, ₹18,000-Crore Buyback and Analyst Targets for INFY Stock

Infosys Limited (NSE: INFY, BSE: 500209, NYSE: INFY) is firmly back in focus on 8 December 2025. The stock is trading around ₹1,616 on the NSE and about $18 for its US ADR, supported by a solid Q2 FY26 earnings print, a large ₹18,000‑crore buyback, fresh tax headlines and a cluster of upbeat institutional calls that put Infosys among India’s top IT picks for 2026. ^[1]

Below is a deep dive into how Infosys stock looks right now—price action, fundamentals, latest news, tax issues, and what analysts are forecasting from here.

Infosys share price today: key levels, returns and valuations

On 8 December 2025, Infosys closed around ₹1,616.2 per share on the NSE. Over the last three months, the stock has delivered about 11.9% returns, putting it ahead of the broader Nifty 50 over the same period. ^[2]

From a valuation standpoint (NSE data via Moneycontrol):

Market cap: ~₹6.74 lakh crore
52-week range: ₹1,307 (low) to ₹2,006.45 (high), with the stock currently about 19% below its 52-week high
Trailing EPS (TTM): ₹67.69
Trailing P/E: ~23.98x (tagged as “Average PE”)
P/B: ~7.04x
Dividend yield: ~2.65%
Sector P/E (IT): ~30.6x, implying Infosys trades at a noticeable discount to the sector average. ^[3]

Trading activity has been healthy. On 5 December, Infosys rose 1.14% to ₹1,615.95, outperforming the broader Sensex, with volumes well above the 50‑day average—an indication of renewed institutional interest. The stock remains nearly 19.5% below its 52‑week high of around ₹2,006.80. ^[4]

Short-term technicals are supportive:

Infosys is trading above its 5‑, 20‑, 50‑, 100‑ and 200‑day moving averages, signalling a broadly bullish trend.
However, delivery volumes on 1 December were about 44.5% lower than the previous 5‑day average, suggesting some of the recent action has been trading rather than long-term accumulation. ^[5]
Moneycontrol’s “MC Insights” gives Infosys a stock score of 89/100, describing it as a “Superior Financial Strength, High Growth Trend stock at reasonable valuations.” ^[6]

In the broader market on 8 December, the Sensex was down about 0.37% and the Nifty 50 around 0.38%, even as Infosys featured among the top gainers alongside other large IT names. Nifty IT was up roughly 0.5%, helped by continued weakness in the rupee around ₹90.06 per US dollar—good news for dollar-revenue earners like Infosys. ^[7]

On Wall Street, the Infosys ADR (NYSE: INFY) trades around $18.07, with only modest day-to-day moves. ^[8]

Q2 FY26 results: steady growth, strong cash and tightened guidance

Infosys’ Q2 FY26 (quarter ended 30 September 2025) marked its second straight quarter of “respectable, but not wild” growth—exactly what you want from a mature IT giant that’s trying to ride the AI wave without blowing up its margins.

Key numbers from the company’s IFRS USD press release and local rupee disclosures: ^[9]

Revenue:
- $5.076 billion for the quarter
- +2.9% YoY and +2.2% QoQ in constant currency
- ₹444.9 billion (₹44,490 crore), ~8.5–8.6% YoY growth
Profitability:
- Net profit: ₹7,364 crore, up 13.19% YoY
- Operating margin: 21.0%, +20 bps QoQ, only ‑10 bps YoY
- Basic EPS: $0.20, up 7.9% YoY; in rupee terms, EPS rose 13.1% to ₹17.76
Cash generation:
- Free cash flow (FCF): $1.1 billion, about 131% of net profit
- In rupees, FCF surged 38% YoY to ₹9,677 crore
Deal wins and pipeline:
- Large deal TCV: $3.1 billion in Q2
- 67% of this was net new, signalling the company is not just renewing old contracts but adding fresh work.
First half of FY26 (H1):
- Revenue: $10.018 billion, +4.3% YoY reported, +3.3% YoY in constant currency
- Operating margin: 20.9%
- FCF: $1.985 billion

Crucially for the stock, Infosys revised its FY26 revenue growth guidance upward, narrowing the band from 1–3% to 2–3% in constant currency, while maintaining its operating margin guidance at 20–22%. ^[10]

Management commentary leaned hard into the AI narrative. CEO Salil Parekh highlighted: ^[11]

The second consecutive quarter of strong growth
A deliberate push toward an “AI‑first culture”
Over 2,500 generative AI projects launched across clients
Infosys Topaz, a stack of AI agents and services, as a key differentiator in large transformation programs

So earnings tell a fairly clean story: low- to mid-single-digit revenue growth, strong margins, excellent cash conversion, and a pipeline that is increasingly AI-flavoured.

Strategic deals and AI positioning: more than buzzwords

The Q2 disclosures read like a tour of global enterprises that are quietly rebuilding themselves around AI, cloud and automation—with Infosys in the room.

Highlighted client work in the latest press release includes: ^[12]

ABN AMRO – Modernising lending with the nCino platform, consolidating multiple legacy systems into a unified, more efficient stack.
Mastercard – Expanding access to Mastercard Move for cross-border payments, helping banks move money quickly and securely while improving risk and liquidity management.
Telstra / Versent Group (Australia) – Infosys is acquiring 75% of Versent Group, creating a joint venture focused on AI-enabled cloud and digital solutions across the region.
RWE (energy), Sunrise (telecom), AGCO (farm equipment), HanesBrands (consumer), Uniting Financial Services (Australia), and Glion Kobe Arena (Japan) – A string of deals tying Infosys to digital workplace transformation, AI-led productivity, cloud migration and data-driven customer experiences.

The company has also racked up a dense trophy shelf of recognitions in 2025:

Named among TIME & Statista’s “World’s Best Companies 2025”
Ranked in Newsweek’s “World’s Most Trustworthy Companies 2025”
Multiple awards for ESG, diversity, inclusion, and women-friendly workplace practices
Recognised as a leader in several Gartner and IDC assessments on AI services, public cloud IT transformation, Oracle implementation, and AI in life sciences and software-defined vehicles. ^[13]

All of this feeds into the narrative that Infosys is trying hard to stay on the right side of the AI disruption curve—less “legacy outsourcer”, more “AI transformation partner”.

₹18,000‑crore share buyback and dividend: how capital is coming back

Capital allocation has been another major driver of investor attention in late 2025.

In Q2 FY26, Infosys announced: ^[14]

A share buyback of up to ₹18,000 crore, the largest in the company’s history
Buyback price: ₹1,800 per share
Number of shares: up to 10 crore fully paid-up equity shares of face value ₹5
This represents roughly 2.41% of the company’s paid-up equity capital
The buyback window ran from 20 November to 26 November 2025
Alongside this, Infosys declared an interim dividend of ₹23 per share, up 9.5% over last fiscal’s interim payout

The explicit rationale: return surplus cash and improve per‑share metrics (EPS, return on equity) while staying in line with the company’s established capital allocation policy. ^[15]

One twist this time is regulatory: recent changes to India’s tax laws mean buyback proceeds are now taxed as “deemed dividend” at the investor’s slab rate rather than being taxed at the company level. That’s a big deal for founders and promoters in the highest tax brackets, and is widely seen as a key reason Infosys promoters chose to skip this buyback, as reported by Mint and the Economic Times. ^[16]

For minority shareholders, the buyback at ₹1,800 offered a short‑term exit opportunity at a premium to market price. Longer term, the buyback slightly shrinks the share count, which can support EPS growth if revenue and margins hold up.

Tax penalties and legal overhang: small bites, one big relief

Infosys has been in and out of tax headlines in 2025, and the market doesn’t love uncertainty—even when the rupee amounts are small compared to its profits.

Recent updates include: ^[17]

New GST penalty (India):
- Infosys received an order from the Joint Commissioner of CGST imposing a ₹13.60 crore penalty, largely tied to GST treatment of employee stay expenses for FY19–FY23.
- The company disclosed that it does not expect any material impact on its financials, given the small size relative to earnings.
Reuters reported that orders have been passed with a tax penalty of ₹136 million (₹13.6 crore), consistent with the GST penalty above.
Other small penalties in 2025:
- ~₹66 lakh fine from the Singapore tax authority over GST payment issues. ^[18]
- A penalty of around ₹1.14 crore relating to alleged non-realisation of export proceeds. ^[19]
- A $125,000 penalty paid by subsidiary Infosys McCamish Systems to Vermont’s regulator as part of a cybersecurity-related settlement. ^[20]

All of these have been categorised as non‑material by the company, but they do create a background hum of compliance risk.

The big legal overhang, however, has actually turned into a positive:

A massive ₹32,403‑crore GST demand over intra‑company cross‑border services—once a serious tail risk—has been closed by India’s Directorate General of GST Intelligence (DGGI). Both the Times of India and Economic Times report that proceedings have now been formally wrapped up, substantially reducing the probability of a large one-off hit. ^[21]

Even after that relief, Infosys’ own financial statements show it still has around $226 million (≈₹2,003 crore) of income-tax claims not acknowledged as debts, with significant amounts already deposited with tax authorities. ^[22]

Net-net: regulatory noise hasn’t gone away, but the worst‑case GST bomb has been defused, and the remaining penalties are more of an irritation than a threat to the balance sheet.

Fundamentals: cash‑rich, almost debt‑free, and shareholder‑friendly

On classic fundamentals, Infosys still checks most of the boxes one expects from a giant Indian IT exporter. Screening data shows: ^[23]

Balance sheet: The company is almost debt-free, which is unusual (in a good way) for a firm of this size and gives it flexibility in downturns.
Profitability:
- 3‑year average ROE (return on equity): ~30.7%
- Healthy and consistent margins in the 20–22% band.
Payout: Infosys has maintained a dividend payout ratio around 65–66% over recent years, plus periodic buybacks—effectively returning a large chunk of free cash flow to shareholders.
Ownership: Promoter holding is relatively low, in the low‑teens percentage, which means ownership is widely institutional and public; not necessarily bad, but it does mean the stock lives and dies with FII and domestic institutional flows.
Valuation vs intrinsic value: A DCF-based model on Smart‑Investing pegs Infosys as trading at roughly a 4% discount to its median intrinsic value as of 5 December 2025, i.e. mildly undervalued on that particular set of assumptions. ^[24]

Analyst ratings and price targets: modest upside, broadly positive stance

Analysts are not exactly screaming “deep value bargain” here—but they’re also not running away. Most major data providers paint a picture of moderate upside with a broadly positive bias.

India-listed stock (INFY on NSE/BSE)

According to consensus numbers compiled by Investing.com: ^[25]

44 analysts cover Infosys
Consensus rating: “Buy”
- 33 recommend Buy
- 10 recommend Hold
- 2 recommend Sell
Average 12‑month target: ~₹1,719
Target range:₹1,470 (low) to ₹2,150 (high)

Relative to the current spot price around ₹1,616, that average target implies mid‑single‑digit price upside, plus a ~2.6% dividend yield, i.e. a potential high‑single‑digit total return in the base case if things go roughly as expected.

Trendlyne, aggregating 31 reports from 11 analysts, shows a somewhat more conservative average target of ₹1,639, implying only 1–2% upside from current levels—consistent with the view that a lot of the post‑results optimism is already priced in. ^[26]

US ADR (INFY on NYSE)

For the ADR, the picture is similar: ^[27]

TipRanks (last 3 months, 5 Wall Street analysts):
- Average target: $18.93
- High: $22.80, Low: $16.00
- Implied upside: ~3.5% from the last price around $18.3
- Rating: “Moderate Buy”
MarketWatch (broader sample of 56 ratings):
- Average target: around $19.21
- Again, only a few percent above the current ~$18 level.

In other words: the analyst community generally likes Infosys, but no longer sees it as a screaming bargain. Most models bake in low‑single‑digit revenue growth, mid‑20s P/E, good dividends and incremental margin improvements.

Add to that Nomura’s recent strategy note, which projects the Nifty at 29,300 by 2026 (about 12–13% upside from current levels) and explicitly names Infosys as one of its top stock picks for 2026. ^[28]

Macro and sector backdrop: rupee tailwinds, global clouds

The backdrop for big Indian IT exporters in late 2025 is… complicated:

Indian equities are near record highs, with the Nifty around 26,000–26,100 and the Sensex around 85,400, though both traded lower on 8 December. ^[29]
Nifty IT, however, has been outperforming on days when the rupee weakens—like 3–8 December, when the rupee fell beyond ₹90 per US dollar for the first time ever, boosting sentiment for export-heavy IT names such as Infosys, TCS and Wipro. ^[30]
Global brokerages like Nomura now see Indian valuations as “normalized” after the volatility earlier in 2025 and are comfortable forecasting double‑digit upside for the Nifty by end‑2026, with IT among their preferred sectors. ^[31]

For Infosys, the macro translation is:

Tailwinds:
- Weak rupee → better translation of US dollar revenue into rupees
- Normalised valuations → less risk of derating solely on multiple compression
- AI and cloud spend holding up relatively better than old-school IT
Headwinds:
- Global IT spending is still cautious; Infosys’ own 2–3% revenue growth guidance basically admits we’re in a subdued demand environment, not a boom. ^[32]
- The company is still heavily dependent on North America and BFSI (financial services) for growth; any renewed slowdown there could make that 2–3% hard to hit. ^[33]

What investors are watching from here

Nothing here is investment advice (this is information, not a trading signal), but in practice market participants tracking Infosys are keeping an eye on a few key levers:

Can revenue growth move beyond 3%?
If large deals ($3.1 billion TCV in Q2, 67% net new) start converting into revenue faster than expected, growth could move above the 2–3% guidance band, which would likely justify a higher P/E multiple. ^[34]
Margins vs wage inflation and AI spend
Management has promised a 20–22% operating margin corridor. With wage hikes, onsite costs and heavy AI investments, maintaining that band will require ongoing productivity gains from automation and Topaz. ^[35]
AI and Topaz execution, not just marketing
Titles like “AI‑first culture” and “2,500+ generative AI projects” are great, but the question is whether this translates into re‑pricing existing accounts and winning new, high-value transformation work at scale. ^[36]
Regulatory clean‑up
The closure of the ₹32,403‑crore GST dispute was a big relief, but investors will watch if further penalties emerge, or if existing claims (≈₹2,003 crore not acknowledged as debt) move toward resolution. ^[37]
Capital-return policy after this buyback
With the ₹18,000‑crore buyback behind it, Infosys still has a cash‑rich balance sheet and a track record of generous payouts. The mix between future dividends and buybacks may evolve now that tax rules treat buybacks like dividends for investors. ^[38]

Bottom line: where Infosys stock stands on 8 December 2025

Put together, the Infosys story on 8 December 2025 looks like this:

A high-quality, almost debt‑free IT giant with strong ROE, steady margins and very robust cash generation. ^[39]
Trading at about 24x trailing earnings, a discount to the broader IT sector, and roughly 19% below its 52‑week high, despite a solid 12% run in the last three months. ^[40]
Backed by a ₹18,000‑crore buyback and rising dividends, plus a generally bullish analyst community that models only modest upside, but still leans “Buy”. ^[41]
Benefiting from rupee weakness and AI enthusiasm, while still dealing with patchy global demand and recurring (but mostly small) tax penalties, set against the relief of a massive GST case being closed. ^[42]