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Buy Infosys: target of Rs 1650: Sharekhan

Sharekhan is bullish on Infosys has recommended buy rating on the stock with a target price of Rs 1650 in its research report dated April 13, 2021.

April 15, 2021 / 08:18 PM IST

Sharekhan's research report on Infosys


Revenue missed, but OPM remained slightly ahead of estimates. Large deal TCVs moderated after two quarters of strong deal wins. FCF conversion continued to improve. Management has guided for revenue growth of 12%-14% y-o-y on CC basis and EBIT margin at 22%-24% in FY2022E, which were in-line with our expectations. Infosys’ board has approved the buyback programme of Rs. 9,200 crore (excluding the tax component) through the open market route at a price not exceeding Rs. 1,750/share. Final dividend stood at Rs.15/share, taking total FY2021 DPS at Rs. 27/share.


Outlook


We maintain Buy on Infosys with an unchanged PT of Rs. 1,650, as it is expected to outpace large peers in terms of revenue growth over the next couple of years.


For all recommendations report, click here


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first published: Apr 15, 2021 02:05 pm
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