Infosys Stocks: Infosys shares have seen a sharp decline on January 14 today.
Infosys Stocks: Infosys shares have seen a sharp decline on January 14 today. The stock of the company fell by nearly 5 percent to Rs 1318. The stock closed at Rs 1387 on Wednesday. On Wednesday, January 13, Infosys presented its quarterly results, which were better than expected. The company’s revenue doubled to 4.5 percent. Margins and dollar earnings also increased. Infosys has given growth guidance for the financial year 2022 in double-digit. Currently, after the results, brokerage houses are also forming their opinion about the stock. Do you know whether you should buy the stock or wait for it now?
Sentiment stronger with growth guidance
Management has increased revenue guidance for FY21 from 2-3 percent to 4.5-5 percent. Apart from this, the margin guidance has been increased from 23-34 percent to 24-24.5 percent. The company management is confident of good growth next year and has said that double-digit growth will be seen in FY 2022.
Infosys CEO and MD Salil Parekh said that our team achieved excellent results in another quarter. Focused on digital transformation, the right strategy for the client has continued to grow well. New client partnerships with leading global companies such as Vanguard, Daimler, and Rolls Royce have shown Infosys’ digital and cloud capabilities.
CC revenue growth is highest in 8 years
IT company Infosys’ profit in the December quarter was around 17 percent to Rs 5197 crore. The company had a profit of Rs 4457 crore in the same quarter a year earlier. The company’s revenue increased 12.3 percent to Rs 25927 crore in the December quarter. During this time the company has got a strong deal.
The CC revenue growth in the third quarter has been 5.3 percent on a quarterly basis, the highest in the last 8 years. Revival growth in US dollar terms has been 6.2 percent on a quarterly basis and 8.4 percent on an annual basis.
What is the opinion of the brokerage house?
Brokerage house Motilal Oswal has advised investing in the stock with a target of Rs 1600. The stock had closed at Rs 1387 on Wednesday. In this context, the stock can get a 15 percent return. Edelweiss has set a target of Rs 2124, giving a target of investing in Infosys. The brokerage company’s $ 7.1 billion deal is at record levels so far. Although the margin is less than the estimate. Prabhudas Liladhar has given a target of Rs 1611 while recommending the purchase of the stock.
Credit Suisse has given an overperform rating on Infosys. The brokerage has set a target of Rs 1810 for the stock. In terms of the current price, the stock can get a 30 percent return. CLSA has given a target of Rs 1620, recommending purchase in the stock. While Morgan Stanley has set a target of Rs 1700, giving an overweight rating.
(Note- We have given advice here based on quarterly performance and brokerage house report. There are risks in the market, so take the opinion of the expert before investing.)