Diwali Gift Soon: Should You Buy Infosys Share Ahead Of Rs 26/Sh Dividend Record Date? 5 Brokers Recommend

Tech player Infosys share price surged by 1% despite reporting a softer Q2 result for FY27. On an expected line, Infosys also lowered its revenue guidance in constant currency for the entire fiscal year. On the positive front, Infosys has declared its first interim dividend of Rs 26 per share for FY27, and its record date is fixed during Diwali time. Although the near-term trajectory for Infosys is cloudy and uncertain, the majority of brokers have either recommended BUY or ADD on Infosys shares.

Infosys Share Price:

After the closing bell on October 26, 2026, Infosys share price closed at its intraday high of Rs 1165 apiece on BSE, with market cap of Rs 4,72,789.22 crore. The stock gained by nearly 1% in the trading session. Infosys' 52-week high and low currently is at Rs 1,727.85 apiece and Rs 980.30 respectively. However, year-to-date, Infosys shares have plunged by over 28.5% on BSE.

Last week on Friday, Infosys American depositary receipts (ADR) also plunged by 6.6% to $ 12.35 after the company lowered its FY27 outlook, indicating near-term pressures.

For Q2FY27, Infosys earned a consolidated net profit of Rs 7,823 crore in Q2FY27, registering a growth of 6.2% YoY and 0.7% QoQ. On the top-line front, Infosys posted revenue from operations at Rs 49,244 crore in Q2FY27, registering a growth of 10.7% from Rs 44,490 crore revenue in Q2FY26. The revenue surged by 2.1% from Rs 48,211 crore in Q1 FY27.

Also, Infosys lowered its FY27 guidance to 1% to 2% in revenue from the earlier 1.5% to 3% forecast. Meanwhile, operating margin guidance is between 20 and 22%.

Infosys Interim Dividend:

In a board meeting held on October 23, 2026, Infosys declared its first interim dividend of Rs 26 per share for FY27.

This came after the company delivered up to Rs 48 dividend per share in FY26 --- comprising of an interim dividend of Rs 23 in October 2025 --- and a final dividend of Rs 25 in June 2026.

As per the filing, Infosys has fixed November 3, 2026 as the record date to determine eligible shareholders for the dividend payout. This will also mark November 3rd as the ex-dividend date. Meanwhile, the payout will be on November 11, 2026, during the celebration of Diwali.

Should You Buy Infosys Shares Before Dividend Record Date?

Reduce Rating On Infosys

Infosys' Q2FY27 performance remained soft, with revenue growth of 1.2% QoQ/1.5% YoY CC, as macro uncertainty, weaker volumes and higher AI-led productivity pass-through weighed on growth. The management consequently lowered FY27 revenue growth guidance to 1-2% (from 1.5-3% earlier), while retaining EBITM guidance at 20-22%. Large-deal TCV remained strong at USD 5.2 billion, including a USD 2 billion+ Net-new mega deal. AI revenue grew 29% QoQ to 10.5% of overall revenue, supporting the management's confidence in mediumterm demand, as per Choice Institutional Equities.

However, the analysts here also said, pricing pressure remains broad-based and H2 margin is likely to face headwinds from compensation hike, acquisition amortisation, softer seasonality and sharing of AI-led productivity benefits, partly offset by Project Maximus.

Accordingly, Choice's analysts added, "We view the quarter as largely mixed with near-term growth to remain under pressure, but strong bookings and AI adoption provide recovery visibility; execution, deal conversion and margin protection remain key. Accordingly, we have revised our estimate marginally to reflect a slower recovery and assign 'REDUCE' rating with an unchanged TP of Rs 1,060, 13x FY28E/FY29E average EPS."

Accumulate Rating On Infosys

"Factoring in the Q2 margin miss and expected wage hikes & furlough-related headwinds in H2, we lower our FY27E/FY28E/FY29E EBIT margin estimates to 20.8%/21.1%/21.3% from 21.2%/21.3%/21.4%. We assign PE of 14x (15x earlier) to Sept. 28 EPS to arrive at a TP of Rs. 1,200 (earlier 1,300). Downgrade our rating to ACCUMULATE from BUY due to stretched valuations and blurry outlook," said analysts at PL Capital.

As per JM Financial's outlook, for Infosys, the forward looking indicators are ---- i) Revised FY27 cc revenue growth guidance to 1-2% (1.5-3% earlier), reflecting softer volumes, lowerthan-expected pricing improvement and subdued discretionary spending. ii) Increased offshoring and lower revenue from a European Manufacturing client continue to imply a combined 1.8-2% growth impact; the bulk of the latter impact is expected in Q4 - no change versus earlier. iii) Margin guidance maintained at 20-22% - headwinds from wage hikes, seasonality, productivity pass-throughs and large-deal ramp-ups to be offset by Project Maximus. iv) Headcount was up 1.4% QoQ. v) LTM large-deal TCV grew 41% YoY. A net-new USD 2 billion+ mega deal is expected to contribute 1%+ revenue growth in FY28, with a margin profile similar to historical deals.

Hence, they revised their FY27-FY29 EPS estimates by 0-1% and target multiple to 15x (14x earlier) given sector re-rating. TP revised to Rs 1,215 (INR 1,130 earlier). They maintained ADD rating.

Buy Rating On Infosys

Two brokers have given buy rating on Infosys. As per analysts at Emkay Global, Infosys management retains 20-22% EBITM guidance for FY27. It views AI-led deflation of the legacy book as finite and AI growth as secular. Hence, they cut FY27-29E EPS by 0.8-1.5%, factoring in the 2Q miss and guidance cut. Considering undemanding valuation, and retained BUY with an unchanged TP of Rs1,300, at 16x Sep-28E EPS.

Further, analysts at Religare Broking said, estimate Revenue/EBIT/ PAT CAGR of 10.6%/11.4%/11.3% over FY26-28E. Despite near-term demand challenges, Infosys' execution capabilities, strong cash generation and long-term growth potential support to their BUY rating with a revised target price of Rs 1,344.