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Infosys share price has fallen nearly 5 per cent in the last one year, significantly underperforming the benchmark Sensex which has gained 13 per cent and the BSE IT index which has jumped 17 per cent in the same period.
The NSE Nifty index closed 27.7 points up at 20997.1
Stocks may now rally harder because of fresh buying and covering of short positions created ahead of the state poll results
Nifty recovered from a weak run to trade flat. It managed to close the day with a net gain.
The Jefferies report on small and midcap companies (excluding UPL) showed strong profit growth of 44% compared to last year. This growth was due to increased sales by 11% and a rise in operating profit margin by 220 basis points compared to the previous year.