Infosys shares hit an intraday high of Rs 1,958.55, inching closer to its 52-week peak of Rs 2,006.45. The company is set to announce its Q3 results on January 16, 2025. Analysts and investors are eagerly awaiting the report, particularly after the company’s performance in Q2. In a recent report by Financial Express, Mark Mobius had indicated that export-oriented companies could benefit from the fall in the rupee. He singled out Infosys and explained that the tech giant, which exports a lot of software, is going to become more competitive because of the weakening rupee.
Also Read: Weak rupee to help export-oriented firms: Mark Mobius
Infosys defers annual wage hikes to Q4
Meanwhile Infosys, the IT giant, has deferred its annual wage hikes to the fourth quarter of the current financial year (Q4 FY25), as reported by Moneycontrol. According to the report, Infosys has delayed its annual salary revisions to Q4 FY25. This comes after the company previously revised salaries in November 2023. Chief Financial Officer Jayesh Sanghrajka, during a press conference following Q2 results in October, stated, “Some part of the wage hikes will be effective in January, and the balance will roll out in April.” The decision is expected to be implemented in a phased manner.
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Infosys had last implemented wage hikes in November 2023,, marking the most recent salary adjustments before deferring the next round to Q4 FY25.
Alongside this, the stock market is closely watching Infosys shares as they hover near their 52-week high. Other industry players, like HCLTech, LTIMindtree, and L&T Tech Services have also delayed salary increments in the second quarter.
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Infosys – Stock performance
In the past six months, the company’s stock has surged by 17.47 per cent. It has delivered 27.6% returns in last 1 year Vs 11.98% from Nifty IT Index.
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