Buy Infosys, target price Rs 1970: Emkay Global

Emkay Global has buy call on Infosys with a target price of Rs 1970. The current market price of Infosys is Rs 1493.8.
Time period given by analyst is one year 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 632020.41 Crore) operating in IT Software sector.


Infosys Ltd. key Products/Revenue Segments include Software Development Charges and Software Products for the year ending 31-Mar-2021.


Financials
For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 32913.00 Crore, up 1.65 % from last quarter Total Income of Rs 32379.00 Crore and up 22.55 % from last year same quarter Total Income of Rs 26856.00 Crore. Company reported net profit after tax of Rs 5695.00 Crore in latest quarter.

Investment Rationale
Macro uncertainties are likely to weigh on valuations in the near term. The brokerage maintains Buy with a TP of Rs1,970 at 28x Mar’24E EPS, considering the strength in demand, steady market share gains and robust cash generation.

Promoter/FII Holdings
Promoters held 13.11 per cent stake in the company as of 31-Mar-2022, while FIIs owned 33.3 per cent, DIIs 17.1 per cent.