Buy Infosys, target price Rs 1315: ICICI Direct

Buy Infosys, target price Rs 1315:  ICICI Direct

ICICI Direct has buy call on with a target price of Rs 1315. The current market price of Infosys Ltd. is Rs 1302.1.

Infosys Ltd., incorporated in the year 1981, is a Large Cap company (having a market cap of Rs 550040.58 Crore) operating in IT Software sector.

For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 26538.00 Crore, up 5.56 % from last quarter Total Income of Rs 25140 Crore and up 10.95 % from last year same quarter Total Income of Rs 23919.00 Crore. Company reported net profit after tax of Rs 5215.00 Crore in latest quarter.

Investment Rationale
Price rebound after taking support and basing formation at 50 day EMA

Promoter/FII Holdings
Promoters held 13.2 per cent stake in the company as of June 30, 2020, while FIIs held 30.5 per cent, DIIs 25.4 per cent and public and others 31 per cent.

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