Dec. 19 at 8:55 PM
Infosys shares cooled on Friday after an unexplained surge that briefly sent the stock up as much as 56%, its largest intraday percentage gain on record. Trading was halted by the NYSE due to volatility, and the stock quickly pulled back once trading resumed. American depositary receipts later traded up about 5.5%.
There was no clear catalyst behind the spike, leaving analysts puzzled. Peers such as Cognizant and Tata Consultancy Services did not show similar moves, suggesting the rally was not driven by fundamentals. One analyst cited market chatter around forced buy-ins and sharply higher borrowing costs, pointing to a short squeeze rather than company-specific news.
The move comes as Infosys has faced pressure this year from tougher U.S. H-1B visa policies, including a
$100,000 fee on new visas, which analysts say could disproportionately hurt Indian IT services firms.
$CTSH $INFY.NSE
