Infosys share price to give 6.5 pct returns in one month, say stock market experts
Investors are bullish and Infosys share price is expected rise - it may even show Rs 810 in one month time, say stock market experts.
Infosys share price has registered over 4 per cent gains in the morning intraday trade, which is mainly due to the robust Q1FY20 results announced the last weekend. As per the stock market experts, the IT counter was expected to open on the higher side from its Friday close at Rs 730/stock and it did the same today. The experts are of the opinion that around Rs 755-60, levels those who are holding the stock should book profit and re-enter once it sustains above Rs 760 levels for the next target of Rs 810 per Infosys stock in short-term perspective means in one month time.
Speaking on the Infosys share price outlook Prakash Pandey, Head of Research at Fairwealth Securities said, "The Infosys share price has been range-bound between Rs 710 per stock levels to Rs 760 per stock levels. Since the Infosys has announced robust Q1FY20 results, the stock is expected to break the upper resistance of the counter at Dalal Street. My advice to the stock market investors is to take a buy position once it sustains above Rs 760 levels for the target of Rs 810 in short-term perspective means in around one month maintaining stop loss below Rs 850 levels."
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IIFL research team informed in a detailed report that the Infosys share price is expected to show Rs 780 targets on account of the robust Q1FY20 results, which is beyond the market expectations citing, "“We fine-tune our estimates and maintain TP of Rs780. Margin improvement and reduction in attrition remain key for further re-rating of the stock. Maintain Buy.”
Infosys posted its Q1FY20 result, reporting a rise of 5.3 per cent in net profit at Rs 3,802 crore compared to Rs 3,612 crore a year ago in the same period. Meanwhile, the company's revenue grew by 14 per cent in Indian rupees, 10.6% in US dollar on a yearly basis while constant-currency revenue increased by 12.4 per cent in the quarter. The key highlight of the result was the revenue forecast for upcoming quarters, which raises faith in the company. As an investor, one can still buy the shares of Infosys. However, growth may be limited. Hence, near-term funds can be hedged.
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