Infosys Shares Jump, Credit Suisse Maintains Outperform Rating, Target Price Rs 1,710

Infosys shares gained nearly 5% in early morning trade today (till 10:00 am). The current share price of Infosys is Rs 1486 apiece with an intraday gain of 4.72% on Friday. It is worth noting that Credit Suisse has maintained an "Outperform" rating for Infosys stock with a target price of Rs 1710. If investors buy the stock of Infosys at its current market price of Rs 1485, they can get a potential return of 15.15%.

Meanwhile, if investors buy Infosys shares now, they can expect to receive an interim dividend of Rs 16.50 per share as the board of directors of the company declared an interim dividend of 16.50 per share. This year the dividend has been increased by nearly 10% over the FY 2022 interim dividend. The market capitalisation of Infosys is Rs 6,24,736.15 crore as of writing the story.

Check key takeaways below:

1. 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:

2. 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.

3. 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.

4. 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.

5. About Infosys Ltd

Infosys is a global leader in next-generation digital services and consulting, has been recognized by Top Employers Institute among the Global Top Employers for the second consecutive year.

Infosys was ranked #1 Top Employer in India, in recognition of its best-in-class people practices and consistency in delivering employee experience globally. Infosys is one of 11 companies worldwide to receive this recognition, according to its official website.

Disclaimer

The stock has been picked from the report of Credit Suisse. 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.