Infosys share price dips after JP Morgan’s downgrade; promoter Shruti Shibulal acquires company shares worth ₹469 crore

IT major Infosys share price continues to decline for second session straight on Thursday. Infosys stock fell over 2 per cent on March 13, touching an intraday low to ₹1,572 on NSE.

The stock has declined over 7 per cent in the last five trading sessions and has descended over 14.5 per cent in over a month.

Infosys share price has been on focus after one of the promoter's Shruti Shibulal bought additional 29.84 lakh shares of the IT giant.

According to exchange filing, Shruti Shibulal, daughter of Infosys co-founder and former CEO S.D. Shibulal, recently purchased 2,984,057 shares of Infosys at an average price of ₹1,657 per share, totaling ₹494.46 crore. Gaurav Manchanda, a member of the Shibulal family, sold an identical number of shares at the same price.

“We are hereby informing you about the Sale of 59,68,113 equity shares (representing 0.14%) of Infosys Limited by way of Sale on the platform of the Stock Exchange on 11th March 2025 and on 12th March, 2025,” the company said in the filing.

JP Morgan downgrades Infosys stock

Morgan Stanley has downgraded Infosys to 'Equal Weight' from 'Overweight', expressing concerns about emerging downside risks to revenue growth and valuation multiples amid rapid changes in the macro environment and technological evolution. Consequently, the firm has reduced its price target for Infosys to ₹1,740 from ₹2,150.

"We see downside risks emerging for both the revenue growth of Indian IT services and valuation multiples," Morgan Stanley analysts wrote.

On the flip side, brokerage firm CLSA has upgraded Infosys stock from ‘hold’ to ‘accumulate’, with a 12-month target price of ₹1,978.

In 2025, Indian IT stocks have faced challenges despite a weakening rupee, primarily due to concerns about a potential U.S. economic slowdown and uncertainties in trade policies. The Nifty IT index has declined by 14 per cent this year, making it one of the worst-performing sectors after real estate.

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