Buy Infosys, target price Rs 1760: BNP Paribas India

BNP Paribas Securities has buy call on Infosys with a target price of Rs 1760. The current market price of Infosys is Rs 1453.1.

Infosys, incorporated in the year 1981, is a Large Cap company (having a market cap of Rs 613417.10 Crore) operating in IT Software sector.

Infosys key Products/Revenue Segments include Software Development Charges and Software Products for the year ending 31-Mar-2022.


Financials
For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 37122.00 Crore, up 5.62 % from last quarter Total Income of Rs 35146.00 Crore and up 23.22 % from last year same quarter Total Income of Rs 30126.00 Crore. Company has reported net profit after tax of Rs 6026.00 Crore in latest quarter.

The company’s top management includes Mr.Nandan M Nilekani, Mr.Salil Parekh, Ms.Kiran Mazumdar Shaw, Ms.Chitra Nayak, Mr.D Sundaram, Mr.Michael Gibbs, Mr.Uri Levine, Mr.Bobby Parikh. Company has Deloitte Haskins & Sells LLP as its auditors. As on 30-09-2022, the company has a total of 421 Crore shares outstanding.

Investment Rationale
Infosys is the top pick for their digital capabilities and execution track record.

Promoter/FII Holdings
Promoters held 15.16 per cent stake in the company as of 30-Sep-2022, while FIIs owned 31.72 per cent, DIIs 32.06 per cent.