For Quick Alerts
For Daily Alerts

Infosys Hits Fresh Record High; M-Cap Soars Past Rs. 6 Trillion Mark


Infosys shares in intra-day trade on April 5 hit a fresh high of Rs. 1425 on the NSE after surging almost 3 percent. With it the IT major's market cap also soared past levels of Rs. 6 trillion. On March 16, the stock hit its previous high.

Infosys Hits Fresh Record High; M-Cap Soars Past Rs. 6 Trillion Mark

Last month, the company informed exchanges that a board of directors meeting is scheduled for April 13 and 14, 2020 for approving and taking on record the audited consolidated financial results of the company and its subsidiaries for the quarter and year ending March 2021.

Analysts are of the view that IT companies would come with healthy Q4FY21E revenues owing to acceleration in digital technologies, improved demand post Covid 19, building up of earlier deal wins as well as migration to cloud .

"We believe improved traction in BFSI, retail, manufacturing, hi tech and life-science will drive revenues in the quarter. This, coupled with cross currency tailwind, will further boost revenue growth in the quarter. Further, IT companies are also seeing a demand tailwind in terms of cost takeout by clients (led by higher offshoring & automation), vendor consolidation opportunities, lift & shift deals and traction in small & medium deals, which could further propel demand in coming quarters," ICICI Securities said in IT sector result preview.

ICICI Securities expect Infosys to record 4.5% quarter on quarter growth in revenue in constant currency term primarily due to traction in cloud migration, Vanguard deal as well as strengthening in deal wins. Also, dollar revenues are expected to surge 5.35 QoQ. At the same time, margins can be hit by as much as 132 bps on account of wage hikes, higher travel and facility cost partially mitigated by offshoring and automation. PAT for the firm is also seen to increase 22% YoY on account of low base and savings from travel and facility cost.

Read more about: infosys
Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X