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    INFY   INE009A01021

INFOSYS LIMITED

(INFY)
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

IT stocks drive Indian shares higher ahead of Infosys results

07/14/2021 | 06:23am EDT

BENGALURU, July 14 (Reuters) - Indian shares ended higher on Wednesday on the back of gains in information technology (IT) stocks, with analysts expecting sector bellwether Infosys to report a jump in quarterly profit after market close.

The blue-chip NSE Nifty 50 index ended 0.26% higher at 15,853.95, while the benchmark S&P BSE Sensex rose 0.25% at 52,904.05.

Markets had opened slightly lower on Wednesday as the biggest jump in U.S. inflation in 13 years reinforced expectations of tapering by the U.S. Federal Reserve, but a surge in domestic IT stocks helped erase early losses.

The Nifty IT index rose as much as over 3% to a record high. Shares of MindTree and Wipro jumped 9.3% and 7.2%, respectively, and were among the top boosts to the sub-index. Larger rival Infosys was up 2.1% ahead of first-quarter results, with analysts expecting a rise in profit as global businesses expanded their digital offerings during the pandemic.

On Tuesday, S&P Global Ratings kept India's sovereign rating unchanged at the lowest investment grade of 'BBB-', and said recovery from the current economic slowdown depended on the government's ability to bring in reforms that spur investment and create jobs.

(Reporting by Shivani Singh in Bengaluru; editing by Aditya Soni)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
INFOSYS LIMITED 1.81% 1718.45 Delayed Quote.36.84%
MINDTREE LIMITED 5.57% 4353.8 Delayed Quote.148.40%
WIPRO LIMITED 0.72% 667.3 End-of-day quote.72.76%
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Analyst Recommendations on INFOSYS LIMITED
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Financials
Sales 2022 1 185 B 16 072 M 16 072 M
Net income 2022 221 B 2 995 M 2 995 M
Net cash 2022 305 B 4 144 M 4 144 M
P/E ratio 2022 32,7x
Yield 2022 1,89%
Capitalization 7 201 B 97 595 M 97 694 M
EV / Sales 2022 5,82x
EV / Sales 2023 5,10x
Nbr of Employees 267 953
Free-Float 84,8%
Chart INFOSYS LIMITED
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Infosys Limited Technical Analysis Chart | MarketScreener
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Technical analysis trends INFOSYS LIMITED
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 36
Last Close Price 1 718,45 INR
Average target price 1 811,36 INR
Spread / Average Target 5,41%
EPS Revisions
Managers and Directors
Salil S. Parekh Chief Executive Officer, MD & Executive Director
Mohit Joshi Co-President
Ravi Kumar S. Co-President & Deputy Chief Operating Officer
Nilanjan Roy Chief Financial Officer
Nandan M. Nilekani Non-Executive Chairman
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