Amid the ongoing conflict between Infosys' Board and its founders, its CEO Vishal Sikka is scheduled to meet institutional investors tomorrow at an event in Mumbai.
As the rift between founders and its Board widens at Infosys, its former CFO V Balakrishnan today said an interim chairman should be appointed at the earliest to "effectively" engage with its billionaire co-founders.
Neeraj Deewan, Quantum Securities advises holding investment in Infosys as the valuation gap between TCS and company will eventually get filled.
Barclays maintains overweight rating on the stock with revised target price of Rs 4,650 (from Rs 3,800) as new CEO Vishal Sikka's plan to embrace newer technologies such as automation and AI to drive growth, is a step in the right direction.
Post results, JPMorgan maintains its overweight rating on the stock with a target price of Rs 3,900 while Deutsche Bank retains hold rating.
Infosys has reported a 7 percent growth in second quarter (July-September) profit at Rs Rs 3,096 crore quarter-on-quarter and dollar revenue grew 3.2 percent to USD 2,201 million.
Analysts feel Sikka‘s failure to articulate a clear strategy could disappoint as the stock has run up sharply leading up to the results. The stock gained 15 percent since June 12 but year-to-date it underperformed peers - it rose 5 percent while its rivals TCS, Tech Mahindra and HCL Technologies shot up 23-33 percent, and Wipro rose 7 percent.