Accumulate Infosys; target of Rs 1060: KR Choksey

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26 Aug, 2025 12:21

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KR Choksey's research report on Infosys

Infosys stated it’s FY18E revenue growth guidance between 6.5-8.5%, which is 50 bps below our estimate of 7-9%. This is the 3rd time that the IT major has cut it’s revenue guidance in the last 3 quarters and is an indication of structural stress in the IT sector. Realizations were down 2.73% yoy in FY17 and continue the downward trajectory.

Outlook

The company’s deployment of automation amongst other disruptive technologies, both internally and externally, to tackle structural issues in the industry should yield results going ahead. We have “ACCUMULATE” rating on the stock and as we assign multiple of 14x to its FY19E EPS of INR. 76 to arrive at a price target of INR 1,060.

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