Infosys’ stock price is down 28% from its 52-week high, time to buy? – Shop today | Jewelry Dukan

Infosys shares are down 28 percent over the past eight months from their 52-week high. The IT company’s stock hit its 52-week high on Jan 17, 2022 and fell to a 52-week low of Rs 1,367 on June 17, 2022. Infosys shares are up 2.27 percent from the 52-week low. The IT sector’s stock traded at Rs.1,397 today, up 1.5 percent from the previous close of Rs.1,379.15. Infosys shares are down 28.49 percent from their 52-week high compared to current trading levels.

Infosys shares trade below the 5, 20, 50, 100, and 200 day moving averages. Infosys’ market capitalization rose to Rs.5.88 billion. The stock has gained after three fall sessions. A total of 31.76 lakh shares of the company changed hands making a turnover of Rs 437.59 crore to BSE. The stock is down 17.16 percent in one year and is down 25.86 percent in 2022.

ALSO READ: Why did Goldman Sachs downgrade IT giants TCS, Infosys and Tech Mahindra while upgrading Wipro?

shareholder pattern

In the first fiscal quarter, 26.64 million public shareholders owned 86.57 percent, or 363.29 million shares, of Infosys. 25 promoters held 13.11 percent, or 55.16 million shares, in the most recent quarter. 26.10 billion public shareholders held 30.53 billion shares of the company, accounting for 7.26 percent stake with an individual share capital of up to Rs 2 lakh. 1,364 public shareholders held 17.76 billion shares of the company representing 4.22 percent ownership with an individual share capital of over Rs.2,000. 36 mutual funds owned 63.04 billion shares, or 14.98 percent stake, in the company at the end of the June quarter. 1,410 FPIs owned 31.72 percent, or 133.32 million shares, of the IT major at the end of the most recent quarter.

ALSO READ: Infosys Secures Top Position for Data and Analytics Services for Second Consecutive Year: Gartner

Result Q1

The IT services company reported a lower-than-expected 3.2 percent increase in net income for the June quarter as operating margin fell on rising spending. Net profit was Rs 5,360 crore or Rs 12.78 per share compared to Rs 5,195 crore or Rs 12.24 per share in the same period a year ago.

Sequentially, profit fell 5.7 percent from Rs 5,686 crore in the January-March quarter. Revenue, or revenue, rose 23.6 percent to Rs.34,470 billion in the first quarter.

Infosys raised its full-year FY23 (April 2022-March 2023) revenue guidance to 14-16 percent from 13-15 percent it had previously forecast, supported by first-quarter growth and a strong demand outlook.

ALSO READ: Infosys and Rolls-Royce open ‘Aerospace Engineering and Digital Innovation Center’ in India.

Operating margin declined to 20.1 percent in the first quarter of the current fiscal year 2022-23, compared to a margin of 23.7 percent in April-June 2021 and 21.5 percent in January-March. Operating expenses increased by 14.4 percent, mainly due to increasing sales and marketing expenses.

expert opinion

Here’s a look at what analysts had to say about Infosys’ stock outlook.

Pavitra Shetty, co-founder and trainer of Tips2Trades

“A sharp sell-off in technology stocks globally has prompted a sharp re-rating, even in the Indian IT sector, including Infosys. Rs 1,445 remains a strong support. Infosys needs to close above Rs 1,520 daily to climb significantly higher to Rs 1,630 to Rs 1,700 in the near future.”

Vinit Bolinjkar, Head of Research, Ventura Securities

“Infosys reported healthy revenue growth in dollars of 5.5% QoQ CC and 21.4% YoY CC at $4,444 million (1% higher than our estimate of $4,395 million), supported by volume-led growth. Management has revised up its FY23 revenue growth guidance to 14-16% from 13-15% previously, due to the strong customer base. It forecast an operating profit margin of 21-23%, which is expected to be in the low range. Strong momentum in the business continued with 19 new wins in Q1 FY23; the highest transaction value was USD 1.69 billion. We believe the company will be able to put in a decent performance leading to the Rs.1,627 (24.0X FY24 EPS) target.”

Santosh Meena, Head of Research, Swastika Investmart

“The meter is in a downtrend and for the past few trading sessions the meter has been trying to form a base around the Rs.1,400 level. The overall structure is distorted as it trades below its all-important moving averages Demand zone near Rs 1350-Rs 1400. On the upside, Rs 1500 is an immediate vulnerable area; above that we can expect a rise towards Rs 1,700 in the near term.

Manoj Dalmia, Founder and Director, Proficient Equities

“Infosys has been under selling pressure for some time. We can expect some selling in the stock with a downside target of Rs 1,396.”

Ravi Singhal, CEO, GCL

“Infosys is trading at multi-quarter lows. After a period of consolidation at lows, this large cap is now poised to move higher. Expect a target of Rs. 1,600 in 3 to 6 months. With inflation peaking behind us, the Rising interest rates is a price factor. Demand and pricing now appear to be under control.”

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