Infosys rose as much as 4 percent to a nine-month high on Monday after brokerages including Barclays upgraded their ratings on the stock after the software services exporter posted better-than-expected earnings and revenue guidance.

JPMorgan and Barclays Capital upgraded their ratings on Infosys Ltd to "overweight" from their respective equivalent of "neutral" ratings. (To read the story, click here)

CLSA also upgraded Infosys to "outperform" from "under-perform"

Infosys shares were up 4 percent as of 9:47 a.m. after earlier hitting its highest intraday level since April 2012.