Infosys share rallies for 2nd day on brokerage upgrades

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Reuters: Mumbai, Jan 14 2013, 09:36 IST

Infosys rose as much as 3 percent to a nine-month high on Monday after brokerages including Barclays upgraded their ratings on the stock after the Indian software services exporter posted better-than-expected earnings

and revenue guidance.

J.P.Morgan and Barclays Capital upgraded their ratings on Infosys Ltd to "overweight" from their respective equivalent of "neutral" ratings.

CLSA also upgraded Infosys to "outperform" from "under-perform"Infosys shares were up 2.5 percent as of 0351 GMT after earlier hitting its highest intraday level since April 2012.

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