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Technical analyst Ambareesh Baliga of Way2Wealth has maintained 'buy' rating on Infosys Limited stock.
The analyst added that the interested investors can buy the stock on dips to around Rs 2700-2750.
On July 11, the stock of the company closed at Rs 2919 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 3493.95 and a low of Rs 2680 on BSE.
Current EPS & P/E ratio stood at 118.84 and 23.29 respectively.
Infosys Ltd registered a 15.4% increase in fiscal first-quarter profit, narrowly missing anticipations as an increase in wages offset sturdy demand from western customers.
India's No. 2 software services exporter also listed on the Nasdaq, stated that consolidated net profit surged to Rs 17.2 billion as against Rs 14.9 billion during the same period of last year.
The country's $60 billion showpiece IT segment is delighting solid expansion from ameliorated rating for its services and heightened outsourcing by firms looking to slash costs and enhance effectiveness amid growing financial indecision.
"We continue to focus on high quality growth, balancing both revenue growth and margins," Infosys Member of the Board and Chief Financial Officer, Mr V. Balakrishnan, stated.