Hold Infosys; target of Rs 1022: Arihant Capital

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Arihant Capital's research report on Infosys

Revenue mix among verticals more or less remained constant with BFSI and RCL (Retail & Life Sciences) segments contributing 33.3% and 22.4% to top line. ECS (Energy, Utilities Communication & Services) segment’s share in total revenue was at 21.4%.

Outlook

We have assigned a PE of 14x to its FY19E earnings and have arrived at fair value of Rs 1,022 per share. At CMP Rs 931 stock trades at 13(x) its FY19E earnings. We have HOLD rating on the stock.

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