Buy Infosys, target price Rs 1600: ICICI Direct

ICICI Direct has buy call on Infosys with a target price of Rs 1600. The current market price of Infosys is Rs 1234.1. Time period given by analyst is a year when Infosys price can reach defined target.

Infosys, incorporated in the year 1981, is a Large Cap company (having a market cap of Rs 513465.41 Crore) operating in IT Software sector.

Infosys key Products/Revenue Segments include Software Development Charges and Software Products for the year ending 31-Mar-2022.

Financials
For the quarter ended 31-03-2023, the company has reported a Consolidated Total Income of Rs 38112.00 Crore, down -2.49 % from last quarter Total Income of Rs 39087.00 Crore and up 15.80 % from last year same quarter Total Income of Rs 32913.00 Crore. Company has reported net profit after tax of Rs 6134.00 Crore in latest quarter.

The company’s top management includes Mr.Nandan M Nilekani, Mr.Salil Parekh, Ms.Kiran Mazumdar Shaw, Ms.Chitra Nayak, Mr.D Sundaram, Mr.Michael Gibbs, Mr.Uri Levine, Mr.Bobby Parikh. Company has Deloitte Haskins & Sells LLP as its auditors. As on 31-12-2022, the company has a total of 419 Crore shares outstanding.

Investment Rationale
Differentiated digital and cloud capabilities to drive growth. Growth remained broad-based and deal momentum robust, with digital transformation rapidly getting scaled up across verticals and regions.

Promoter/FII Holdings
Promoters held 15.11 per cent stake in the company as of 31-Dec-2022, while FIIs owned 36.29 per cent, DIIs 32.38 per cent.