This IT Major Likely To Announce Dividend Next Week, Brokerage Sees 19% Upside

Established in 1981, Infosys is a NYSE listed global consulting and IT services company with more than 335k employees. From a capital of US$250, It has now grown to become a US$ 16.97 billion (LTM FY23 revenues) company. The stock has been making news lately as it is likely to announce interim dividend next week.

The company has been maintaining a good track record when it comes to dividend. Infosys for the year ending March 2022 announced an equity dividend of 620.00% or Rs 31 per share. If the stock's last trading price of Rs 1451.75 is considered, will give a dividend yield of 2.14%. Check key takeaways below:

1. Infosys Ltd Likely To Announce Dividend Next Week

The board of directors of Infosys had last month on September 16, 2022 stated in its regulatory filing, "This is to inform you that a meeting of the Board of Directors of the Company will be held on Wednesday and Thursday, October 12 and 13, 2022 inter alia to:

1. Approve and take on record the audited consolidated financial results of the Company and its subsidiaries as per Indian Accounting Standards (INDAS) for the quarter and half year ending September 30, 2022;

2. Approve and take on record the audited standalone financial results of the Company as per INDAS for the quarter and half year ending September 30, 2022;

3. Approve and take on record the audited financial statements of the Company and its subsidiaries as per INDAS and IFRS for the quarter and half year ending September 30, 2022 and

4. Consider declaration of interim dividend, if any."

2. Brokerage Reports On Infosys

Credit Suisse assigned buy rating to the stock of Infosys with a target price of 1700 apiece and a potential upside of 19%.

Meanwhile, another leading brokerage firm ICICI Securities expects Infosys to lead on the revenue front with 5% QoQ CC growth.

JM Financial also remained quite bullish on Infosys and stated, "We see better risk-reward with Tier I techs vis-à-vis Tier II techs given potential customer specific troubles seeping in for the smaller firms in a weakening demand environment. INFO, HCLT and TECHM are our BUYs amongst the Tier I's."

 

 

3. Infosys Ltd Stock Outlook

The last trading price of Infosys is Rs 1451 apiece with its 52-week high at Rs 1953 apiece and 52-week low at Rs 1355 apiece, respectively. The stock is currently trading very near to its 52-week low. It has fallen 25.7% from its 52-week high level.

4. Infosys Ltd Market Capitalisation

The current market capitalization of Infosys Ltd is Rs 6,10,871.36 crore.

5. Infosys Ltd 5-Years Return

The stock has given 5-years return of 215%, 3-years return of 83%, and declined 14% in the last 1 year.

6. Infosys Ltd About

Infosys is a global leader in next-generation digital services and consulting. It enables clients in more than 50 countries to navigate their digital transformation. It empowers the business with agile digital at scale to deliver unprecedented levels of performance and customer delight.

Disclaimer

The stock has been picked from the brokerage report of Credit Suisse, ICICI Securities, and JM Financial. 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.