Buy Infosys, target price Rs 1355: ICICI Securities

Buy Infosys, target price Rs 1355:  ICICI Securities

ICICI Securities has buy call on Infosys with a target price of Rs 1355. The current market price of Infosys is Rs 1288.55.

Infosys Ltd., incorporated in the year 1981, is a Large Cap company (having a market cap of Rs 548718.70 Crore) operating in IT Software sector.

For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 24570.00 Crore, up 3.82 % from last quarter Sales of Rs 23665.00 Crore and up 8.58 % from last year same quarter Sales of Rs 22629.00 Crore Company reported net profit after tax of Rs 4858.00 Crore in latest quarter.

Investment Rationale
A resolute breakout above a rising trendline joining highs of September 2019 and October 2010 signals strength

Promoter/FII Holdings
Promoters held 13 per cent stake in the company as of Sept 30, 2020, while FIIs held 31.7 per cent, DIIs 25 per cent and public and others 30.4 per cent.

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