Infosys: Next Fiscal Year Is Another Low-Single-Digit Growth Year (Rating Downgrade)

Infosys Ltd. is downgraded to a hold as revenue growth remains subdued, with FY2027 guidance at only 1.5%–3.5%. Client-specific headwinds and a shift to offshore delivery are weighing on near-term growth, despite positives in Financial Services and EURS. Large-deal activity and AI-driven demand support INFY's long-term outlook, but the backlog is not yet translating into accelerated revenue growth.