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Buy Infosys; target of Rs 1730: Sharekhan

Sharekhan is bullish on Infosys has recommended buy rating on the stock with a target price of Rs 1730 in its research report dated June 22, 2022.

June 23, 2022 / 11:36 AM IST
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Sharekhan's research report on Infosys


Our interaction with Infosys’ management revealed that demand stays strong and the company does not see clients’ IT spends weakening even amid geopolitical tensions and high inflation. Infosys is confident of clocking strong revenue growth yet again in FY2023 with front-ended revenue growth. H1 is expected to be better than H2. Margins are likely to improve in H2FY2023 as headwinds are front-loaded, led by rationalisation of sub-contractor costs, pyramid rationalisation and better pricing.



Outlook


We thus maintain a Buy on Infosys with a revised PT of Rs. 1,730; the company is expected to outpace large peer in terms of organic revenue growth in FY2023-FY2024E.

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At 11:31 hrs Infosys was quoting at Rs 1,450.00, up Rs 12.65, or 0.88 percent.


It has touched an intraday high of Rs 1,453.75 and an intraday low of Rs 1,433.85.


It was trading with volumes of 144,872 shares, compared to its thirty day average of 357,704 shares, a decrease of -59.50 percent.


In the previous trading session, the share closed down 0.87 percent or Rs 12.65 at Rs 1,437.35.


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 25.78 percent below its 52-week high and 6.06 percent above its 52-week low.


Market capitalisation stands at Rs 610,105.00 crore.


For all recommendations report, click here


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first published: Jun 23, 2022 11:33 am
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