INFOSYS Share Price: Infosys’ third quarter results were in line with expectations. Dollar revenue and CC revenue growth witnessed higher than expected growth. The company has increased its revenue guidance for FY25 to 4.5-5% from 3.75-4.5%. But due to weak management commentary, ADR fell by 6 percent. On quarterly basis, the company’s profit increased from Rs 6,506 crore to Rs 6,806 crore. Income increased from Rs 40,986 crore to Rs 41,764 crore. The company’s EBIT increased from Rs 8,649 crore to Rs 8,912 crore. EBIT margin increased from 21.1% to 21.3%. After the results, three brokerage houses have given a bullish opinion on the stock.
In today’s morning trade, INFOSYS shares were seen trading at Rs 1822.85, down 5.58 per cent or Rs 105.60 at 10.08 am.
HSBC has given a buy opinion on Infosys. Its target has been fixed at Rs 2120. He says that the company’s results have looked good in terms of revenue growth and margins. Outlook commentary on European banking appeared positive. Management’s outlook commentary regarding the US retail business has been positive.
Nomura has given a buy rating on Infosys. Its target has been fixed at Rs 2220. He says that in every respect the company’s Q3 results have been better than expected. Guidance for FY25 is good. Project Maximus may continue to impact margins. Largecap is the top pick in Indian IT services.
(Disclaimer: The views and investment advice expressed on Moneycontrol.com are the personal views and opinions of investment experts. Moneycontrol advises users to consult certified experts before taking any investment decision.)