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Brokerages Positive on Infosys ahead of Q3

Infosys shares were volatile on Friday ahead of the company's December quarter earnings announcement at 12.30 p.m. Traders say Infosys shares may witness volatility if the company cuts its annual sales outlook from 7-9 per cent.
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Brokerages Positive on Infosys ahead of Q3

Infosys shares were volatile on Friday ahead of the company's December quarter earnings announcement at 12.30 p.m. Traders say Infosys shares may witness volatility if the company cuts its annual sales outlook from 7-9 per cent. (Read earnings preview)

Most brokerages were positive on Infosys ahead of the result announcement.

CLSA said its expectations were much above consensus. Infosys can cut guidance to 6-8 per cent from 7-9 per cent, CLSA said. It advised clients to "buy" Infosys ahead of results announcement. Barclays expect Infosys to focus on its new strategy for growth.

Nomura has a "buy" rating on Infosys (target Rs 1,974), but in the brokerage's pecking order HCL Tech, Tech Mahindra and TCS come ahead of Infosys.

Domestic brokerage Kotak expects a steadier quarter for Infosys. It remains constructive on Infosys as top pick in the IT sector. Motilal Oswal said payout of dividend is the key factor to watch in coming quarters.

Maybank has a "sell" rating on Infosys with a target of Rs 1,600.

Infosys shares traded 0.10 per cent higher at Rs 1,975 as of 10.25 a.m. It underperformed the broader IT sub-index on the BSE, which was up 0.8 per cent. (Track stock)



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