Shares of Infosys Ltd, the second-largest software company in India rose as much as 1.6 percent to hit a record high of Rs 766.95 apiece, its highest ever. The stock's previous high was recorded at Rs 759.8 per share.
The movement was seen after a two-day fall aiding the climb of NSE's benchmark Nifty 50's gain beyond the 11,000 mark. Analysts have projected that the prices could move further upwards.
In the last 12 months, the stock has given its investors a return of 33 percent. The Relative Strength Index which was above 70, indicated that the stock may be overbought.
As of last's day close, shares of Infosys were trading 15.18 percent for 2019 while NSE's broader index only moved 0.66 percent higher.
Apart from external factors like the weakness in European financial services, strong results reported by the IT giant for the third quarter of 2018-19, have thrown light on the company's focus to diversify the revenue concentration, say experts. Its growth trajectory for the next 12 to 18 months looks positive.