Sharekhan's research report on Infosys
Infosys reports lower revenue growth for Q2FY18, though margin performance surprises positively. Steeper than expected cut in s revenues guidance for FY2018 on constant currency term to 5.5-6.5% from 6.5-8.5% earlier. The newly appointed chairman Mr. Nandan Nilekani has stated at getting complete clarity on “the things to do” going forward for growth acceleration. The stock is trading at steep discount to TCS, further its upcoming buyback program will protect the downside risk from current levels. Maintain HOLD.
Outlook
We maintain our HOLD rating on the stock with unchanged price target of Rs1,000.
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