Jun 14, 2013, 04.13 PM | Source: Moneycontrol.com
Kotak Securities has recommended accumulate rating on Infosys with a target of Rs 2469, in its June 14, 2013 research report.
, Kotak Securities |
" Infosys has announced salary increments for off-shore and on-site employees. We see this as a first step to improve employee morale, which had been impacted. We expect other measures in due course to improve efficiencies and utilization levels. These factors, in addition to the recent rupee depreciation, should net out a large part of the margin impact due to the increments. Thus, our earnings estimates stand marginally changed. This initiative has come quicker than expected and we view it this positively. However, we believe that, improvement in revenue growth, which could be a major valuation trigger, could take some more time. Thus, we recommend ACCUMULATE (Reduce) with a target of Rs 2469 (Rs 2324)," says Kotak Securities report.
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Arihant Capital has recommended accumulate rating
Motilal Oswal is bullish on Infosys has recommende
ICICI Direct is bullish on Infosys has recommended
KR Choksey has recommended accumulate rating on In