Shares of Bengaluru-based technology services provider Infosys Ltd. hit a record high on Tuesday, October 15, having gained for the third day in a row.

The stock made a record high of ₹1,991 in the early minutes of trade on Tuesday and has now gained in seven out of the last eight trading sessions.

Infosys shares have hit a record high ahead of their September quarter results, which are due to be reported on Thursday, October 17.

Shares of Infosys have recovered over 47% from the recent 52-week low of ₹1,351, which it had declined to in November of last year.

For the September quarter, a CNBC-TV18 poll expects Infosys to report a 3.6% growth quarter-on-quarter for its US Dollar revenue. In rupee terms, the company's topline is likely to grow by 4%.

Earnings Before Interest and Tax (EBIT) may come in at ₹8,723 crore from ₹8,288 crore in June, while margins may see an expansion of just over 20 basis points.

In case this happens, it would be the second straight quarter for Infosys with strong revenue growth as the June quarter also saw revenue increase by 3.6%.

Brokerage firm Kotak Institutional equities expects Infosys to raise its financial year 2025 revenue growth guidance to between 4% and 5% from 3% to 4% earlier. Citi too expects the company to raise its guidance to 4% to 4.5%.

Out of the 45 analysts that have coverage on Infosys, 30 of them have a "buy" recommendation, ten say "hold", while five of them have a "sell" rating.

At the current price, Infosys has a market capitalisation of ₹8.2 lakh crore.

Shares of Infosys are currently trading 1% higher at ₹1,979. The stock has risen nearly 30% so far in 2024. Shares have delivered negative annual returns only twice in the last decade, once in 2016 and the other in 2022.

Vikasdhan - Grow your Dhan with Vikasdhan

Disclaimer -not an investment advice only for educational purpose. To read complete disclaimer click on the linkhttps://vikasdhan.com/disclaimer

Published on:October 15, 2024, 9:39:28 AM IST