Arihant Capital's research report on Infosys
Top-line growth of Infosys has dropped by 1.4% qoq to $2,551mn. Rupee revenue decreased 0.2% qoq to Rs 17,273cr. Operating profit has increased by 0.6% on qoq to Rs 4,334cr and Net Profit has increased by 2.8% to Rs 3,708cr.
Outlook
We have assigned a PE of 15x to its FY18E earnings and have arrived at fair value of Rs 1,110 per share. At CMP Rs 1,035 stock trades at 13(x) its FY18E earnings. We have ACCUMULATE rating on the stock.
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