Street cheers Infosys Q3 nos, audit all-clear; experts see up to 22% upside

Buoyed by a positive troika of increase in revenue guidance, attrition decline, and audit panel's clean chit on whistleblower allegations, shares of Infosys surged over 4 per cent in the early deals on Monday and was the top gainer on the 30-share Sensex index.

On Friday, the IT bellwether said that its audit committee found no evidence of financial impropriety or executive misconduct by the company in its investigation into allegations contained in the anonymous whistleblower complaints the company disclosed on October 21, 2019 and determined that the allegations were substantially without merit. The whistleblower allegation was the key overhang