1. Infosys declared its first quarter results and company has posted 4.24% growth in its first quarter. Infosys beat the market expectations in terms of its consolidated net profit which stood at Rs 1,302 crore as against Rs 1,249 crore in previous quarter. Even consolidated net sales have jumped by 6.87% and the same is seen at Rs 4,854 crore from Rs 4,542 crore. Infosys' earning per share (EPS) for the first quarter came at Rs 22.71 versus Rs 21.79. Thus one can say that market was not surprised by its results as Infosys' first quarter numbers were similar to market expectations. Poor economic data (inflation and IIP numbers), in addition to the rising crude oil prices led to fall in market and as a result technology stocks also suffered slide.
2. If Infosys falls below Rs 1,679, then it is heading down to Rs 1,500. However Centrum is optimistic on Infosys and has given a buy rating for the stock with a target price as Rs 2,200. Even M Financial Services is also bullish on the stock. It is no doubt that Infosys is a stock which can outperform its guidance going ahead and thus one may buy this stock with a time frame of 6 months.
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11 Jul 2008
Infosys announces results for the quarter ended June30
Infosys announces results for the quarter ended June30
2008-07-11T19:59:00+05:30
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