ICICI Direct recommended Hold rating on Infosys with a target price of Rs 855 in its research report dated October 14, 2019.
Romesh Tiwari of CapitalAim feels IT majors like Infosys and TCS are robust and can provide comparatively-secured returns while returns on midcap IT will be more volatile
Sanchit Vir Gogia, founder, Greyhound Research, a technology advisory firm, said: "This situation is not great. There is a sense of scare."
Sharekhan is bullish on Infosys has recommended buy rating on the stock with a target price of Rs 880 in its research report dated October 11, 2019.
Credit Suisse has an 'underperform' call on Infosys with a target price of Rs 690 due to high valuations and an expectation of a weaker second half of FY20.
Slowing global economic growth has been hurting Indian IT companies’ earnings. But Infosys is better placed than TCS to win large deals which will provide better growth visibility ahead
Since the earnings season has begun, volatility will remain high across the board, traders should focus more on risk management aspect and avoid naked leveraged trades.
Total hiring for the second quarter stood at 14,000.
The company has declared an interim dividend of Rs 8 per equity share. The record date for dividend is October 23 and payment date is October 30, 2019.
The management also revised its full-year constant currency revenue growth guidance to 9-10 percent from 8.5-10 percent earlier.
The country's second largest software services provider is expected to report strong earnings growth, with likely upward revision in full year revenue guidance.
The stock has given 10 percent return in the September quarter and 22 percent year-to-date.
Net Sales are expected to increase by 3.9 percent Q-o-Q (up 10 percent Y-o-Y) to Rs. 22,660.4 crore, according to Prabhudas Lilladher.
Net Sales are expected to increase by 3.5 percent Q-o-Q (up 9.5 percent Y-o-Y) to Rs. 22,568.8 crore, according to Motilal Oswal.
Europe accounts for about 23 percent of Infosys' revenues
As part of this engagement, Infosys will offer next-generation application services leveraging its global delivery model (GDM), automation and other service optimisation levers to deliver effective service operations.
The Nifty Services Sector index has formed a head & shoulders pattern at the top of the rally, but it is still 5 percent away from the neckline support.
The market will remain shut on October 8 for Dussehra
Trends on SGX Nifty indicate a negative opening for the broader index in India, with a 54 points loss from closing figure of 1st October (11,396).
As part of the program, Infosys and SAP are in talks to create a joint go-to-market engagement model between SAP's project Embrace and Infosys' Innov8 program to provide digital solutions to enterprises, the companies said in a joint statement.
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