Infosys Stock: Infosys shares reached their record high today after the results of the second quarter of the current financial year. The stock gained nearly 3 per cent to Rs 1186. Earlier on Wednesday, the stock closed at Rs 1137. With the stock reaching a record high, the market cap of Infosys crossed 5 lakh crore. However, the stock declined later. Infosys is the 5th company in the stock market, whose market cap has crossed 5 lakh crore. Currently, experts and brokerage houses are looking positive on the stock after the quarterly results. According to him, the stock will continue to rise further.
Infosys will increase the salary of employees, special incentive will be given to junior staff
5th Company with 5 Million M-Cap
Infosys today became the fifth company to be listed in the stock market, whose market cap has touched 5 lakh crore. Infosys shares have risen nearly 61 percent so far this year. At the same time, with the low of March, its price has more than doubled. Right now RIL tops the market with a market cap of 15.5 lakh crores. After this comes the number of TCS and HDFC Bank, whose market cap is 10.4 lakh crore and 6.62 lakh crore.
Revenue and margin better than expected
According to the brokerage house, the company’s results have been better than expected. Revenue and margin were better than expected. Infosys has also increased revenue and margin guidance for the whole year, which is a better sign. In the second quarter, margin expansion increased by 270 points on a quarterly basis. The highest deal was achieved in the second quarter. It is expected that further growth of the company will be further strengthened by strong order books and deals.
Mutual funds are investing heavily in IT shares; Infosys, TCS, HCL become first choice
23 percent can get returns
According to brokerage house Motilal Oswal, the FY21 / FY22E EPS is estimated at 9% / 12% growth. The brokerage house has given a target of Rs 1355, recommending investment in the stock. In this context, the stock can get 19 percent growth. At the same time, brokerage house MK Global has given a target of Rs 1360 for the stock. Brokerage house ICICI Securities has a target of Rs 1400 for the stock. In this context, the stock can get 23 percent return.
How was Infosys results?
Infosys’ profit has increased by nearly 21 per cent on an annual basis to Rs 4845 crore. At the same time, the revenue grew by 8.6 percent to Rs 24,570 crore on an annual basis. Infosys has revised the revenue growth guidance in Constant Currency by 2-3 per cent for the financial year 2020-21. It was 0-2 per cent earlier. The full year operating margin guidance has also been increased to 23-24 per cent as against 21-24 per cent.
Strong deal achieved
In the second quarter, the company has signed a new deal worth 315 crore dolly. In the meantime, Infosys has added 5 new clients in the $ 100 million band. There are 30 clients in this category. There are 6 new clients added to the $ 10 million cut, and a total of 16 new clients are added for $ 1 million. The total number of active clients has increased to 1,487 by the end of September. There were a total of 1,458 clients in June.
Source: www.financialexpress.com
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