What you should do in Infosys Stock, Buy, sell or hold?
Infosys is one such company of India's IT sector which has brought laurels to its country across the world. If we talk about the stock market, then Infosys has done a lot to its shareholders. But for the last few years, there has been a lot of competition in the IT sector and many companies have performed better than Infosys. The question must be coming in the minds of the Infosys shareholders that how the Infosys stock will perform in the near future. We will not discuss about the past performances of Infosys because we all know that Infosys has performed very well in the past and Infosys has always given good returns to the shareholders of its company, but will Infosys's company be successful in the future? Will it be able to give good returns to the share holders? For this, we will look at the latest performance of the company.
Latest news of Infosys ltd:
India's leading IT company Infosys announced its December quarter results yesterday i.e. on Thursday 12/01/2023. The performance of the company remained as per the expectations. All investors and traders wait for the results of Infosys , let us understand how the company's results have been.
Infosys Q3 Result Analysis:
The company also registered an annual increase of 13.4% in its total net profit to Rs 6,586 crore. If we talk about the performance of the company for the whole year, then the revenue has increased by 15%-16.5%. If we talk about the third quarter of FY 2022, then the net profit in that has been Rs 5,809 crore. Although it also includes some amount of interest
India's Bengaluru-based IT company Infosys has reported a 20% year-on-year growth in consolidated revenue of nearly Rs 38,318 crore in the third quarter of the current fiscal, as against the previously estimated band of 14%-15% for the full year & Has increased the revenue of 16-17%. These results have surprised even the experts of the Indian stock market and these results of the company have left behind the forecasts of profit and revenue. In a media statement, the company's management said that in constant currency terms, year-on-year growth has been in double digits across most business lines and geographies. There have also been many good events that have improved the company's performance
In nutshell, We can say that due to all these reasons, Infosys net profit up 13.4%at Rs 6,586 crore in third quarter which is very good for the company and company shareholders.
Infosys continues to be a trusted partner to the company's customers. The market share of Infosys is continuously increasing and it can also be seen why the company is also seeing improvement in large deals. The company's revenue growth has been strong this quarter, in addition to growth in both the company's digital business and core services.
Infosys stock closed at price level of 1480.60rs ( 12/01/2023). Few months back during covid pandemic stock was trading around 585rs in March 2020 and now Infosys stock is trading at 1480.60rs in Jan 2023 it means more than double from lower levels. Infosys stock made 52 week high around 1953.90rs and 52 weeks low 1355rs. As per technical charts:
Short term price target of Infosys:
If Infosys Stock gives close above 1495rs then we can see price levels of 1509rs, 1518rs, 1528rs. 1535rs . Another close above 1538rs price level, it can take Infosys stock price up to 1585rs to 1590rs, 1605, 1615rs. Short term Investors and traders should keep strict stoploss in Infosys stock around 1445rs closing basis.
if any investor want to keep stop loss into the Infosys for the long term investment point of view at this price level then its better to keep stoploss of 1358rs. We are giving this stoploss as per technical levels or this stoploss will be only for the investors those are into profit in Infosys stock and those investors or traders want to lock profit on higher levels.
Long term target of Infosys Stock:
Infosys stock is a portfolio
stock for the long term investors. Price movement in any stock is a part of
demand and supply into the stock and market conditions. As Indian stock market is trading at very
higher valuations and we are expecting profit booking into the market which may
drag the Infosys stock too. It is advisable to long term investors try to
accumulate Infosys stock at lower levels & the price target of Infosys is 1650rs+
but it will depend on the market conditions. If market condition will remain
positive then we will upgrade the long term price targets too.
In nutshell, As we have already discuss on our website in this topic, Experts view on Indian stock market for year 2023. We are not feeling comfortable at current Indian stock market valuations for the short term, It is better to book profit on the every rise of Infosys stock and try to accumulate Infosys stock at lower levels for long term point of view.
Recommendation on Infosys stock:
Hold for short term and buy for long term but at lower levels if comes. As per current Indian stock market valuations, Book profit on every rise or follow the strict stoploss.
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