Buy Infosys, target price Rs 1695: ICICI Securities

ICICI Securities has buy call on Infosys with a target price of Rs 1695. The current market price of Infosys is Rs 1579.1. Time period given by analyst is Intra Day when Infosys Ltd. price can reach defined target.

Infosys Ltd., incorporated in the year 1981, is a Large Cap company (having a market cap of Rs 672737.04 Crore) operating in IT Software sector.

Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 26856.00 Crore, up 1.20 % from last quarter Total Income of Rs 26538.00 Crore and up 12.46 % from last year same quarter Total Income of Rs 23881.00 Crore. Company reported net profit after tax of Rs 5078.00 Crore in latest quarter.


Investment Rationale
Breakout above rising trendline joining highs of January and April signals extension of the rally.

Promoter/FII Holdings
Promoters held 13 per cent stake in the company as of Dec 30, 2020, while FIIs held 32.6 per cent, DIIs 23.8 per cent and public and others 30.7 per cent.