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The stock quoted a 52-week high price of Rs 269.3 and low of Rs 182.45.

Markets will now watch out for reports from Goldman Sachs Group Inc and Bank of America Corp later in the day, while Morgan Stanley is due on Wednesday, after stellar results from the other big U.S. banks last week.

Most unlisted shares saw a decline of 25-60% in the last one year after the underperformance of recent IPOs derailed investor sentiment.

The Relative Strength Index of the stock stood at 65.52 on Tuesday.

On the technical charts, the 200-day moving average of the stock stood at Rs 353.81.

We are raising about Rs 320 crores as primary capital through this IPO and as said in the RHP about Rs 145 crores of that will be used for debt reduction.

A total of 43,630 shares changed hands on the counter till 01:37PM (IST)

Most technical indicators suggest that the upside is likely to remain intact; however, the stock is trading near an overbought zone, hence, mild profit booking could be on the cards.

The company has hired Kotak Investment Banking, Axis Capital, IIFL Securities, Jefferies and JP Morgan as book-running lead managers while KFin Technologies has been appointed the registrar to the issue.

"Infosys has a habit of surprising investors sharply with their earnings reports. While there is always some controversy in the market, investors should focus on valuations and not blink green with regards to IT investment. Despite the recent drop in valuations, the IT sector has a strong revenue tailwind due to their business model and client spending habits, creating ample buying opportunities."