Infosys Shares Rise As Q3 Results Best Estimates; Should you Buy, Sell or Hold the IT Stock?
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Infosys Share Price Today: Infosys Limited Shares rose marginally to Rs 1,489 apiece on the BSE in Friday’s opening deals after the IT company reported a better-than-expected over 13 per cent rise in profit in the December quarter. It also raised its annual sales forecast on a strong deal pipeline even as it warned of “constraints" in certain verticals amid slowing global economy. Consolidated net profit rose to Rs 6,586 crore in October-December 2022 as against Rs 5,809 crore a year back. The IT bellwether expects a revenue growth of 16-16.5 per cent for the current financial year compared to a growth of 15-16 per cent it had projected earlier despite the “changing global conditions". However, at 21.5 per cent, the margins were lower than 21.6 per cent expected by the street. It was unchanged on sequential basis. Company’s FY23 revenue growth guidance points to a stable near-term demand outlook, notwithstanding a minor upgrade, CLSA noted. The Bengaluru headquar...