Shares of information technology giant Infosys hit a record high on Tuesday ahead of its second-quarter results, scheduled for later in the week.

What Happened: Infosys shares soared to hit an all-time high of ₹1,991.45 during early trading hours on Tuesday. The stock, which has ended in the black in the past two sessions, has gone up by over 26% since the start of the year.

Infosys’ jump comes on the back of analysts’ optimism over the firm’s second-quarter performance which is scheduled for October 17.

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Results Outlook: The company is one of Axis Securities’ top picks in the IT sector. The brokerage expects the firm to report the highest growth in revenue among its large-cap peers. It sees Infosys’ revenue improving 8.75 year-on-year to ₹41,230 crore and profit after tax to rise 11.8% to ₹6,645 crore.

Axis expects the management to retain the company's revenue growth guidance for FY25 at 3% to 4%.

HDFC Securities sees Infosys leading growth among tier-1 IT firms. It expects the firm to record net sales worth ₹40,665 crore and report an adjusted profit after tax of ₹6,878 crore.

The potential for a guidance upgrade from the current 3% to 4% will indicate an improved outlook for the second half of the year and a stronger-than-expected second quarter, similar to the first, the brokerage added. Positive commentary on the banking and financial services industry (BFSI), market share gains in communication and improved hiring are among the favourable factors for the company, HDFC said.

Nirmal Bang sees the IT major’s revenue coming in at ₹40,978 crore backed by an increase in large and mega deal wins from last year, seasonal strength from high third-party software sales in Q2 and a revival in the BFSI vertical.

The brokerage expects the firm’s net profit to improve to ₹6,881.6 crore. Nirmal bBang further expects Infosys to raise its FY25 revenue growth guidance from the earlier 3% to 4% range while maintaining an EBIT margin guidance of 20% to 22%.

Price Action: Infosys pared early gains to trade flat at ₹1,953.85 on Tuesday afternoon.

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