Infosys Stock Price Today :There is a huge fall in the shares of IT sector giant Infosys today. Infosys stock fell by more than 4 percent to Rs 1881. Whereas on Thursday it closed at Rs 1968. The company released its results for the September quarter on Thursday, which were weaker than expected. Although the company has increased its revenue guidance, profits have been weaker than market expectations. After the results, brokerage houses are positive about the stock, but are not expecting much growth in it in the near term. There is also a possibility of the stock falling further in the short term.
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Brokerage House Rating and Target Price
Emkay Global
Rating: BUY
Target price: Rs 2150
Choice Broking
Rating: BUY
Target price: Rs 2142
Antique Broking
Rating : HOLD
Target price: Rs 1980
Nomura
Rating: BUY
Target price: Rs 2130
morgan stanley
Rating : overweight
Target price: Rs 2150
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What does the brokerage house say?
Brokerage house Choice Broking says the company is seeing strong uptake in GenAI projects spanning software engineering, process optimization, customer support, advisory services and sales and marketing. This, coupled with broad growth, margin expansion, large deals and record cash generation, enhances confidence in the near-term growth prospects. The brokerage expects revenue, EBIT and PAT to grow at 9.5 per cent, 13.5 per cent and 11.6 per cent CAGR during FY24-FY27E.
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Brokerage house Antique Broking says that Infosys’ results have come in line with expectations, but FY25 revenue growth guidance was below expectations. It has been increased to 3.75%-4.5% in terms of CC, whereas the expectation was 4%-5%. The brokerage has made a slight cut in revenue and EPS estimates as the second half is expected to be weaker than expected.
At the same time, Morgan Stanley says that due to second quarter results not being as expected, there is a possibility of some decline in the stock in the near term. However, the brokerage also believes that investors should create new positions in such a possible fall.
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How were the company’s results?
Infosys’ profit has increased by 4.7 percent on annual basis in the September quarter to Rs 6506 crore. In the same quarter of the last financial year, the company had made a profit of Rs 6212 crore. However, on quarterly basis the company’s profit has increased by only 2.2 percent. The company’s income increased by 4.2 percent to Rs 40,986 crore. Infosys has increased its revenue guidance for the financial year 2024-25 from 3.75 to 4.50 percent for the second consecutive quarter. Which is more than the target of 3 to 4 percent given in the last quarter.
(Disclaimer: The view or advice on the share is given by the brokerage house. These are not the personal views of Financial Express. There are risks in the market, so take expert opinion before investing.)