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    Buy Infosys, target price Rs 1730 : Sharekhan by BNP Paribas

    Synopsis

    The brokerage maintains a Buy rating on Infosys with an unchanged PT of Rs. 1,730 given strong deal pipeline, its end -to-end capabilities and prowess in digital areas, analytics, automation and Cobalt cloud.

    BuyAgencies
    Promoters held 15.16 per cent stake in the company as of 30-Sep-2022, while FIIs owned 31.72 per cent, DIIs 32.06 per cent.
    Sharekhan by BNP Paribas has buy call on Infosys with a target price of Rs 1730. The current market price of Infosys is Rs 1503.5.

    Infosys, incorporated in the year 1981, is a Large Cap company (having a market cap of Rs 632709.99 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 31-12-2022, the company has reported a Consolidated Total Income of Rs 39087.00 Crore, up 5.29 % from last quarter Total Income of Rs 37122.00 Crore and up 20.72 % from last year same quarter Total Income of Rs 32379.00 Crore. Company has reported net profit after tax of Rs 6586.00 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 30-09-2022, the company has a total of 421 Crore shares outstanding.

    Investment Rationale
    Given looming global headwinds, the outlook for FY24E looks uncertain and with gradual recovery in the coming quarters. However, the brokerage believes the structural growth story for the Indian IT sector remains intact. The brokerage maintains a Buy rating on Infosys with an unchanged PT of Rs. 1,730 given strong deal pipeline, its end -to-end capabilities and prowess in digital areas, analytics, automation and Cobalt cloud.

    Promoter/FII Holdings
    Promoters held 15.16 per cent stake in the company as of 30-Sep-2022, while FIIs owned 31.72 per cent, DIIs 32.06 per cent.



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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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