Infosys can test Rs 2400: B Shah

Bhavin Shah of JP Morgan is of the view that Infosys can test Rs 2400 over next six-nine months.

Shah told CNBC-TV18, "We do think that Infosys can go back to Rs 2,400. We think that when you look at genuine business growth, currency and extension of tax holiday suddenly the growth profile over March ’09- March ’10 has improved considerably and between 25% and 30% growth looks much more realistic now. That does support a higher multiple even and in fact Rs 2,350 is our price target and so I agree with that number of Rs 2,400 being achievable over next six-nine months."
 
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