Infosys shares jump 5%: How much Narayana Murthy family, LIC, small investors gained

Infosys climbed nearly 5 per cent in Friday's trade on strong Q3 results, adding nearly Rs 26,000 crore to investor wealth notionally. Rising 4.52 per cent to hit a high of Rs 1,671.45 on BSE, Infosys saw its market capitalisation surging to Rs 6,90,090 crore today from Rs 6,64,352 crore on Thursday, up Rs 25,738 crore, as analysts largely retained their 'Buy' ratings on the IT major post upward revision in FY26 guidance. 

Promoters, including founder NR Narayana Murthy and co-founders Nandan Nilekani, SD Shibulal and S Gopalakrishnan, held a 14.55 per cent stake in Infosys at the end of the December quarter. Their notional wealth rose Rs 3,745 crore in Friday’s trade.

Life Insurance Corporation of India Ltd (LIC), a long-term public shareholder with 11.09 per cent per cent stake, made a notional gain of Rs 2,854 crore. It held Rs 76,531 crore worth Infosys shares at Friday's share price. Small retail investors, with up to Rs 2 lakh investments, made notional gains of Rs 1,935 crore on their 7.52 per cent stake in Infosys. These investors, 26.71 lakh, owned Rs 51,894 crore worth Infosys shares.

Among promoters, Narayana Murthy held 0.41 per cent stake in Infosys, which was worth Rs 2,829 crore, up Rs 106 crore. Murthy, his wife Sudha Murthy, son Rohan Murty, daughter Akshata Murty and his grandson Ekagrah Rohan Murty together held 4.06 per cent stake in Infosys, as per BSE data. At Friday's value, the combined stake was worth Rs 28,018 crore, up 1,045 crore over Rs 26,972 crore.

Infosys upgraded its FY26 revenue growth guidance to 3-3.5 per cent from 2-3 per cent. TCV was strong at $4.8 billion, analysts noted.

ICICI Securities said Infosys reported a marginal beat on revenue and tad miss on margins, excluding 40 bps one-off benefit from sale of property. The brokerage believes FY27 revenue growth for Infosys will likely outpace that of FY26 due to strong order book momentum and uptick in AI-led discretionary demand across industries led by financial services, energy, resources and utilities.

"We model 4.7 per cent/5.7 per cent YoY CC growth for FY27E/FY28E (earlier 3.8 per cent/6.1 per cent). We note, hiring has inched up in line with growth visibility, with total headcount growing 4.2 per cent YoY, ahead of TTM revenue growth of 3.3 per cent YoY CC – a marked change from headcount lagging revenue growth for the past several quarters. Our EPS estimates remain largely unchanged," it said.

JM Financial said while legacy areas for Infosys could see contraction, AI led modernisation demand and market share gains are likely to offset this.

"We now build 3.5 per cent  CC YoY growth in FY26, raise growth estimates for FY27 and upgrade EPS by 1.5-3 per cent. Infosys remains our preferred pick among the top-6. Maintain Buy," JM said.