Infosys shares in focus after ADRs jump 40%, Company clarifies no material events behind the surge

Core Viewpoint - The surge in Infosys' American Depositary Receipts (ADRs) was not linked to any material events requiring regulatory disclosure, despite significant volatility and trading activity [1][7]. Group 1: Stock Performance - Infosys ADRs experienced a remarkable 40% spike on the NYSE, reaching a 52-week high of $30 before settling at $20.22, marking a gain of $1.04 or 5.42% amid trading volumes of 118.7 million [7]. - The ADRs had shown positive momentum earlier in the week, with increases of over 5% on Thursday and 2.5% on Wednesday, indicating a three-day streak of gains [3][7]. Group 2: Market Context - The rally in Infosys ADRs followed a broader increase in Indian IT stocks, particularly influenced by Accenture's first-quarter results that exceeded Wall Street estimates, driven by strong demand for AI-driven IT services [2][5]. - Accenture's shares rose 0.85% to $274.57 on the Nasdaq during the same period, reinforcing its status as a bellwether for the IT sector, including Indian IT companies [2][5]. Group 3: Company Guidance - Infosys reiterated its fiscal 2026 guidance, projecting full-year revenue growth between 2% to 5% in local currency terms, and 3% to 6% in constant currency, excluding an estimated 1% impact from its U.S. federal business [6][7].