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

Sharekhan by BNP Paribas NSE 0.51 % has buy call on Infosys  NSE 0.18 % 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

 NSE 0.02 %, 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.

By:ET

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