Sharekhan's research report on Infosys
The company’s Financial Services segment in the US continues to see rise in discretionary spends in capital markets, mortgages, cards and payments. With uncertainty on rate cuts and elections in US settling down, the plaguing concerns are expected to wane leading to a gradual uptick in discretionary spends across verticals. Project Maximus, which has been able to arrest the fall in margins since it was launched in FY24 is expected to drive margins in the medium term.
Outlook
We reiterate Buy with an unchanged PT of Rs. 2,270. At CMP, the stock trades at 30.3/26.5x/23.7x its FY25/26/27E EPS.
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