Is Infosys overvalued or undervalued?

Based on the latest information, Infosys appears to be undervalued relative to its peers in the industry. The company has recently shifted its valuation grade from fair to attractive, indicating a positive outlook. With a PE ratio of 24.30 and an EV to EBITDA ratio of 15.81, Infosys is positioned favorably compared to TCS, which has a higher PE ratio of 25.82 and an EV to EBITDA of 18.05. Additionally, Infosys offers a robust dividend yield of 4.54% and impressive returns on capital employed and equity, which further enhance its attractiveness as an investment.
Considering these factors, along with the slight decline in stock price and a solid stock return over the past year, it suggests that Infosys may be undervalued in the current market context.