Sharekhan's research report on Infosys
Management indicated demand would stay strong for 2-4 years led by clients’ high spends on cloud and digital transformation, urgency for core modernisation and greater offshoring. Q2FY2022 revenue growth to remain strong aided by ramp-up of Daimler deal. Infosys is well-placed to deliver industry-leading revenue growth in FY2022 given broad-based demand, robust deal wins and a healthy deal pipeline. Strategic investments in digital capabilities make Infosys well-placed to participate in clients’ digital transformation journey. We expect USD revenue and net profit to clock a 16% and 17% CAGR respectively, over FY2021-2023E.
Outlook
We maintain a Buy on Infosys with a revised PT of Rs. 1,950 given strong growth potential, healthy deal wins and broad-based demand.
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