Buy This IT Software Stock Trading At 24% Discount, Target Price 1750: Axis Securities

Axis Securities has given buy call to Infosys Ltd with a target price of Rs 1750 apiece and a potential return of 19%. The analyst has given a time period of 1 year for the stock to achieve its target price of Rs 1750. Currently, the stock is trading at a discount of 24% from its 52-week high level. Board of Infosys Ltd has recently announced quarterly results and a dividend of Rs 16.50 per share.

Check key takeaways below:

1. Infosys Ltd Stock Outlook

The stock's last trading price is Rs 1474 apiece with an intraday gain of 3.82%. The stock's 52-week high is Rs 1954 apiece and 52-week low is Rs 1355 apiece, respectively. The company has a market capitalisation of Rs 6,20,254.82 crore.

2. Infosys Return In 5 Years

The stock has given multibagger returns to investors with 5-years return at 219%, 3-years return 88%, and negative 1-year return at 13%. The shares have surged 4% in 3 months and 2% in 1 week.

3. Infosys Board Approves Buyback Of Rs 9300 Crores

The Board of Infosys Ltd has approved a proposal for the Company to buyback its own fully paid-up equity shares of face value of Rs 5/- each from the equity shareholders of the Company (other than the promoters, the promoters group and persons in control of the Company), being 14.84% and 13.31% of its total paid-up capital and free reserves as on September 30, 2022 (on a standalone and consolidated basis, respectively) for an amount, payable in cash, aggregating up to Rs 9,300 crore.

4. Infosys Declares Interim Dividend Record Date And Payout Date

Infosys board has announced an interim dividend of Rs 16.50 per share, an increase of 10% over FY 22 interim dividend of last year. The board has fixed October 28, 2022 as the record date for interim dividend and November 10 as payout date:

5. Infosys Q2 Results

Infosys Ltd has announced its quarterly numbers for the period ending June 30, 2022 that were largely in line with estimates, with net profits surging 11%. It declared a decent dividend and buyback of shares as well.

The Board of Infosys Ltd has approved a proposal for the Company to buyback its own fully paid- shares aggregating up to Rs 9,300 crore. It is worth noting that Infosys board has announced an interim dividend of Rs 16.50 per share, an increase of 10% over FY 22 interim dividend of last year. The revenues in constant currency terms grew by 18.8% YoY and 4.0% QoQ.

Operating margins in Q2 ending June 30, 2022 expanded sequentially by 150 basis points. The company has revised revenue guidance of 15%-16% for FY 23.

6. About Infosys Ltd

Infosys Ltd. is a multinational information technology company headquartered in Bangalore. It was incorporated in Pune in 1981. The company became a public limited company in June 1992. In 1999, Infosys shares were listed on the Nasdaq stock exchange as American depositary receipts. It was the first Indian company to get listed on Nasdaq.

Disclaimer

The stock has been picked from the brokerage report of ICICI Direct. 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.