Infosys share price hits 52 week low post Q4 result. Moreover Infosys shares are down by 10% after disappointing Q4 results and rising global uncertainities. Whereas, On Monday 17/04/2023, price per share of infosys was trading around at Rs. 1250. The stock is down by 10%. As there are around 27 lakh sellers and no buyers for the stock.
The American Depository Receipt price in the US stated that the stock price of Infosys is likely to open in the red on Indian indices this Monday. Which came out to be true.
As a result, Infosys reported a 7% sequential drop in net profit to Rs 6,128 crore for the January-March 2023 period. Moreover, Infosys has given a return of -22% in the past 1 year. Infosys Q4 results were announced after market hours on Thursday. Indian equity markets were closed for trading on Friday on account of Ambedkar Jayanti.
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Top brokerage firms and financial Institutions like Jefferies, HDFC Securities, Kotak Institutional Securities BOB capital market has given a buy rating on infosys.
52 week high of Infosys was around Rs. 1900 and 52 week low is 1180.
Infosys is India’s second largest IT stock. The Bengaluru-based company’s net profit of 61.28 billion rupees ($748.21 million) in the January-March quarter. It also missed analysts’ expectations of 66.24 billion rupees, according to Refinitiv IBES.
Infosys on Thursday said it expects revenue growth of 4%-7% for the fiscal year ending March 2024, well below analysts’ expectations of 10.7% growth. As clients deferred spending due to growing fears of a recession. The previous slowest growth was a 5.8% increase in fiscal 2018.