Arihant Capital's research report on Infosys
Infosys (INFY) increased FY23 revenue guidance to 14%-16% from 13-15%: Reported revenue of $ 4,444Mn ( up 3.8% QoQ/17.5%YoY in USD terms) against our estimate of $4,425 Mn. Delivered a robust performance in Q1 with YoY growth at 21.4% and sequential growth at 5.5% in constant currency. Reported revenue of INR 34,470 Cr up 6.8% QoQ/ 23.6% YoY against our estimate of INR 34,033Cr. The growth was led by Digital which accounted for 61.0% of overall revenues, growing at 37.5% in the CC term.
Outlook
This coupled with the recent correction in prices prompt us to upgrade the stock from Neutral to Accumulate with a revised target price of INR 1,728 per share (PE of 25x on FY24E EPS).
More Info
At 11:26 hrs Infosys was quoting at Rs 1,461.15, up Rs 9.35, or 0.64 percent.
It has touched an intraday high of Rs 1,462.70 and an intraday low of Rs 1,444.55.
It was trading with volumes of 162,365 shares, compared to its thirty day average of 404,733 shares, a decrease of -59.88 percent.
In the previous trading session, the share closed down 3.40 percent or Rs 51.05 at Rs 1,451.80.
The share touched its 52-week high Rs 1,953.70 and 52-week low Rs 1,367.20 on 17 January, 2022 and 17 June, 2022, respectively.
Currently, it is trading 25.21 percent below its 52-week high and 6.87 percent above its 52-week low.
Market capitalisation stands at Rs 614,796.50 crore.For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
