Motilal Oswal's research report on Infosys
Infosys announced over the weekend that its Board of Directors has appointed Salil S. Parekh as Chief Executive Officer and Managing Director (CEO&MD) of the Company effective January 2, 2018. Mr. Parekh joins Infosys from Capgemini where he was a member of the Group Executive Board. Mr. U B Pravin Rao will step down as the interim CEO and Managing Director effective January 2, 2018 and will continue as Chief Operating Officer and a whole -time Director of the Company.
Outlook
Our price target of INR1,100 discounts forward earnings by 15x, implying 15% upside. We retain our Buy rating, and believe that the gradual recovery to normalcy will provide further case for rerating.
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.
Read More
