Infosys share price: Buy Infosys, target price Rs 1355: Motilal Oswal

Motilal Oswal has given a buy rating to Infosys with a target price of Rs 1355. The share price moved down by 0.66 per cent from its previous close of Rs 1136.10. The stock’s last traded price is Rs 1130.95.

Infosys Ltd., incorporated in the year 1981, is a Large Cap company (having a market cap of Rs 484265.88 Crore) operating in IT Software sector.

For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 24570.00 Crore, up 3.82 % from last quarter Sales of Rs 23665.00 Crore and up 8.58 % from last year same quarter Sales of Rs 22629.00 Crore. The Company reported net profit after tax of Rs 4858.00 Crore in latest quarter.


Investment Rationale
The brokerage upgrades FY21/FY22E EPS estimates by 9%/12% as it adjusts the revenue and EBIT margin trajectory. Infosys should be a key beneficiary in terms of recovery in IT spends in FY22. Additionally, leading operational performance in 1HFY21, coupled with strong deal wins, should translate to strong outperformance on EPS growth (v/s the sector).

Promoter/FII Holdings
Promoters held 13.2 per cent stake in the company as of June 30, 2020, while FIIs held 30.5 per cent, DIIs 25.4 per cent and public and others 31 per cent.

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