Buy Large Cap IT Stock, Trading Near 52-Week Low, For Good Gain: HDFC Securities

HDFC Securities has recommended investors to buy Infosys Ltd with a target price of Rs 1815. The stock is trading just 6% away from 52-week low. The company has a market capitalisation of Rs 6,09,687.79 crore. If you buy Infosys Ltd now, you will receive potential 25% gain. Check details below:

1. Infosys Ltd Stock Performance

The last trading price of the stock is Rs 1448 apiece with an intraday dip of over 1%. The stock's 52-week high is Rs 1953 apiece and 52-week low is Rs 1355 apiece, respectively.

2. Infosys Ltd Return

The stock has declined 20% in last 1-year. It has gained 96% in last 3-years, and 186% in last 5-years. The shares of Infosys Ltd have fallen a little over 3% in last 1-week and 10% in last 1-month.

3. HDFC Securities On IT Sector

According to HDFC Securities, "The IT sector is expected to post a soft quarter, impacted by Q3 seasonality and worsening macro. The elements of macro volatility is resulting in growth moderating towards pre-COVID even as long-term drivers are unchanged. Recently, HCLT tweaked its FY23E guidance to the lower end, but Accenture maintained its FY23E growth guidance (outsourcing-led). In a seasonally soft quarter with higher impact of furlough, we expect tier1 IT to post within 0.6% to 3.1% QoQ CC revenue growth, margin expansion of ~60bps QoQ and PAT growth of ~5% QoQ."

4. Infosys Ltd About

Established in 1981, Infosys is a NYSE listed global consulting and IT services company with more than 345k employees. From a capital of US$250, it has grown to become a US$ 17.53 billion (LTM FY23 revenues) company with a market capitalization of approximately US$ 71.41 billion.

Disclaimer

The stock has been picked from the brokerage report of HDFC Securities. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.