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Buy Infosys ; target of Rs 2300: ICICI Direct

ICICI Direct is bullish on Infosys recommended buy rating on the stock with a target price of Rs 2300 in its research report dated January 14, 2022.

January 14, 2022 / 04:44 PM IST

"India’s specialty chemicals industry is a decadal growth opportunity and it is still not too late to participate in the value creation process. We prefer CRAMS/CSM players Navin Fluorine (Navin) and PI Industries (PI) as they provide long-term earnings visibility. We also like UPL due to robust growth outlook and reducing debt concerns and SRF due to rising contribution from the chemicals business," JM Financial research report.

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ICICI Direct's research report on Infosys

Infosys Ltd (Infy) is one of the leading IT players catering to BFSI, retail, communication, manufacturing & hi tech verticals. The company generates >58% of revenues from digital technologies • Dividend payout (>80%), margins (>20%) and RoCE (>31%) key positives.


We continue to remain positive and retain our BUY rating on the stock. We value Infosys at Rs 2,300 i.e. 32x P/E on FY24E EPS.