Infosys may touch Rs 3000-3100: Rajat Rajgarhia

Rajat Rajgarhia, Head of Research of Motilal Oswal Securities told CNBC-TV18, "For Infosys the estimates are right now marginally higher by about 2.5-3 percent, but the price target still remains at just about Rs 3,000-3,100. The price target is more closer to Rs 3,100 now and after the big jump that we have seen while the estimates have seen just 2-3 percent upgrade, the PE multiple itself has been upgraded by about 7 percent just based on the price action of Friday itself."

At 09:44 hrs Infosys was quoting at Rs 2,747.65, down Rs 55.10, or 1.97 percent. It has touched an intraday high of Rs 2,791.30 and an intraday low of Rs 2,744.30.

The share touched its 52-week high Rs 3,010 and 52-week low Rs 2,101.65 on 07 March, 2013 and 26 July, 2012, respectively. Currently, it is trading 8.72 percent below its 52-week high and 30.74 percent above its 52-week low.