Buy Infosys, target price Rs 1392: ICICI Securities

ICICI Securities has buy call on Infosys with a target price of Rs 1392. The current market price of Infosys is Rs 1335.8. ICICI Securities recommended to keep stop loss at Rs 1294.

Infosys, incorporated in the year 1981, is a Large Cap company (having a market cap of Rs 555575.16 Crore) operating in IT Software sector.

Infosys key Products/Revenue Segments include Software Development Charges and Software Products for the year ending 31-Mar-2023.


Financials
For the quarter ended 31-03-2023, the company has reported a Consolidated Total Income of Rs 38112.00 Crore, down -2.49 % from last quarter Total Income of Rs 39087.00 Crore and up 15.80 % from last year same quarter Total Income of Rs 32913.00 Crore. Company has reported net profit after tax of Rs 6134.00 Crore in latest quarter.

The company’s top management includes Mr.Nandan M Nilekani, Mr.Salil Parekh, Mr.D Sundaram, Mr.Michael Gibbs, Mr.Govind Iyer, Ms.Chitra Nayak, Mr.Bobby Parikh. Company has Deloitte Haskins & Sells LLP as its auditors. As on 31-03-2023, the company has a total of 415 Crore shares outstanding.

Investment Rationale
Four weeks decline retraced in a single week. Faster retracement shows structural improvement.

Promoter/FII Holdings
Promoters held 15.14 per cent stake in the company as of 31-Mar-2023, while FIIs owned 35.09 per cent, DIIs 33.46 per cent.