1. Infosys gave the results in line with market expectations with FY08 sales at Rs 16,692 crore versus Rs 13,893 crore, PAT was 20% up at Rs 4,659 crore versus Rs 3,856 crore.
2. Presently the stock has given a boost to Indian stock market with BSE IT index being up over 3%, led by heavyweights like Infosys (up over 3%), TCS (up over 3%) and Wipro.
3. However one has to be careful with the stock as its future guidance is not promising.Its guidance includes: FY09 revenues at $5 billion, FY09 sales between Rs 19,890 crore versus Rs 20,214 crore, EPS between Rs 92.32 - Rs 93.92.
4. The company has increased the dividend payout to 30% from 20% and has added 5,947 employees in Q4, ends with 91,187 employees. Infosys' results have given a boost to the IT sector today.
5. One must remember that Infosys will remain rangebound between Rs 1,300-1,550 and thereafter if it breaks with volume than the stock can touch Rs 1,750-1,800,1950 levels. It is being anticipated that though Infosys can hit a target of Rs 1,950, however previous highs may not be achieved. Get Free Indian Stock Market Tips in Email Here.
15 Apr 2008
Infosys Update
Infosys Update
2008-04-15T19:22:00+05:30
ANALYST
Infosys|
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