Consequent to the internal reorganisation, there were changes in the reportable business segments based on “management approach”.
A slowdown in hiring in the face of topline expansion is indicative of a change in the trajectory of IT companies, as they chase greater margins with a slimmer workforce.
Infosys added 17,709 professionals during the first quarter on the gross basis.
ICICI Direct recommended hold rating on Infosys with a target price of Rs 1410 in its research report dated July 16, 2018.
JM Financial bullish on Infosys has recommended buy rating on the stock with a target price of Rs 1420 in its research report dated July 13, 2018.
Dolat Capital recommended accumulate rating on Infosys with a target price of Rs 1500 in its research report dated July 16, 2018.
TCS has been in the lead for a decade.
Uber, Airbnb, and Amazon are strong examples of successful aggregators who are innovatively adapting to the dynamic needs of today’s consumers. So, why not banks?
Prabhudas Lilladher is bullish on Infosys has recommended buy rating on the stock with a target price of Rs 1430 in its research report dated July 13, 2018.
Stability in senior leadership, well chalked out execution strategy, better demand environment, generous payout and opportunities from a weaker rupee-dollar protects downside for the stock
Majority of brokerage houses remained positive on the stock, expecting 9-19 percent return over a period of one year on hopes of better margins going ahead.
Next week, Wipro, the third largest IT Services company by revenue, and mid-sized MindTree will also report June quarter numbers.
Tata Consultancy Services (TCS) continued to rule the market cap chart followed by RIL, HDFC Bank, Hindustan Unilever Ltd (HUL), HDFC, ITC, Infosys, Maruti Suzuki India, Kotak Mahindra Bank and SBI in the week to Friday.
TCS' market cap (Rs 7,58,536.46 crore - $111 billion) is 2.6 times bigger than Infosys (Rs 2,85,924.10 crore - $41.72 billion) as of July 13, 2018 while Infosys was 1.5 times bigger than TCS in 2009.
Analysts said the result was largely a non-event.
The board members approved a bonus issue of one equity share for every equity share held, to celebrate the 25th year of the company’s public listing in India and to further increase the liquidity of its shares.
First quarter revenue increased to Rs 19,128 crore from Rs 18,083 crore in the March quarter
In the previous quarter, Infosys reported a 28 percent sequential fall in net profit to Rs 3,690 crore, in line with analysts' expectations.
HCL's buyback is at a premium of 9.4 percent to its Thursday closing price of Rs 1005.30
Net Sales are expected to increase by 6.4 percent Q-o-Q (up 12.6 percent Y-o-Y) to Rs. 19,233.8 crore, according to Edelweiss.
Net Sales are expected to increase by 5.1 percent Q-o-Q (up 11.2 percent Y-o-Y) to Rs. 18,996 crore, according to HDFC Securities.
Infosys was also the first Indian company to list on the Nasdaq stock exchange in 1999
Analysts expect sequential growth across parameters in Q1 except margin that is likely to be impacted by wage hikes but partly offset that impact due to sharp rupee depreciation in June.
Infosys co-founder Kris Gopalakrishnan said the reason was that the powerful AI engines in them examine thousands of such images and has a database of past diagnosis. "And this (AI) is able to do it better than traditional mammography and things like that,"
The top IT companies are fighting cases related to tax incentives and dividend distribution with tax authorities.